[Special Stock] Geumyang's Stock Price Soars Ahead of Overhang

On the 28th, the KOSPI index opened at 2,437.57, up 0.91% (22.04 points) from the previous trading day, as dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,306 won, down 7.3 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] On the 10th, Kumyang's stock price is soaring in the stock market. Despite the release of a volume equivalent to 6.6% (3.4 million shares) of the listed stocks on the 11th, the stock price has shown strength from the early trading session on this day.

As of 10 a.m. on the 10th, Kumyang's stock price is recorded at 10,300 won, up 20.19% from the previous day. Although concerns about the 'overhang' increased from the next day, the stock price is rising instead.

Kumyang will list and start trading over 3.4 million new shares on the 11th. This volume is close to 6.6% of the currently listed shares. This is the volume converted from convertible bonds (CB) issued in 2020 and 2021 by investors who exchanged bonds for stocks at prices lower than the current stock price.

Since Kumyang's stock price recently surged due to successful development of cylindrical secondary batteries, it is highly likely that this volume will be sold immediately for profit realization. If a large volume of selling pressure occurs, the stock price will fall. However, on this day, the stock price is rising regardless of this.

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