[Featured Stock] Yangjisa Surges Over 400% After Super Ant Buying... Limit Up for Two Consecutive Days

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Yangjisa, a company listed on KOSDAQ, has seen its corporate value soar following the purchase of shares by a "super ant" investor. Despite the domestic stock market showing continuous weakness this month amid growing caution ahead of the U.S. Federal Open Market Committee (FOMC) meeting, Yangjisa continues its record-high rally.

According to the Korea Exchange on the 20th, Yangjisa showed a sharp rise from the start of trading and was trading at 47,100 KRW, up 29.93% as of 2:33 PM. Following the previous day's close at 36,250 KRW, which hit the daily price limit (29.93%), the stock set a new 52-week high again on this day. Yangjisa’s stock price was only 7,280 KRW on July 15, but has shown a steep upward trend since individual investor Kim (39), known as a "super ant," purchased more than 5% of the shares.

From July 18 over four days, Kim purchased 839,188 shares (5.25%) of Yangjisa on the open market. The purchase amount was approximately 10.171 billion KRW. Kim’s related party, Na (29), also bought 25,783 shares (0.__%) on July 21. At the time, Kim stated the holding purpose as "actions influencing management rights," citing a free capital increase, activation of stock trading, enhancement of other shareholder value, and voluntary delisting, but corrected it to "simple investment" the next day. Kim apologized, saying, "I provided more detailed information to avoid misunderstandings about the holding purpose, but it caused market confusion. I apologize for that," and added, "I will not sell until December 31 this year and intend to hold as a long-term investment."

From the first day Kim started purchasing shares on the market, Yangjisa’s stock price hit the upper limit, and the stock, which had been trading below 15,000 KRW, began to surge again this month. Since Kim’s share purchase, the stock price has risen more than 400% as of this day.

Yangjisa’s largest shareholder, Honorary Chairman Lee Baegu, and related parties hold 75.53% of the shares, and treasury stock accounts for 14.04%. Only 10.43% (1,665,808 shares) of the total shares are circulating, making it a scarce stock. Kim purchased half of these circulating shares, significantly reducing the available shares, and the stock price appears to rise whenever demand concentrates. The Korea Exchange designated Yangjisa as an investment caution stock on this day due to the stock price rising more than 100% compared to 15 days ago.

This content was produced with the assistance of AI translation services.