2023-05-04 02:17:32
Kim Ik-rae, block deal transaction revealed…
Daoukium Group Chairman Kim Ik-rae refuted allegations of stock price manipulation by disclosing the transaction details of 1.4 million shares of Daou Data sold through off-hours bulk trading (block deal).
On the 4th, Chairman Kim emphasized in the material distributed by Kiwoom Securities, “The claim of Mr. Ra Deok-yeon, the representative of an unregistered investment advisory company, is an absurd story.”
According to the disclosed balance and transaction statement, on the 24th of last month, Chairman Kim received 60.543 billion won (43,245 won per share) of 1.4 million Daoudata stocks (3.65% stake) in his Kiwoom Securities account.
Stock settlement is made two business days after the trading day, and Chairman Kim conducted a block deal after the market closed on the 20th of last month, so the trading proceeds were deposited on the 24th.
Chairman Kim’s side also explained how the block deal was concluded. Chairman Kim’s side said, “The block deal was contacted with foreign securities companies on the 5th of last month, and one of the companies selected as the organizer conducted the transaction after completing internal deliberation on the 19th after going through its own due diligence and legal review process.”
“The block deal transaction was concluded after the close of the market on the same day when the foreign institution was notified of the transaction progress at 12:00 noon on the 10th of last month,” he said.
Previously, Mr. La insisted on verifying that Chairman Kim had actually received the amount he sold the stake through multiple media interviews. Subsequently, he raised suspicion that he could have done short selling without borrowing if he had only exchanged stocks without receiving actual money.
An official from Chairman Kim’s side criticized, “Ra Deok-yeon distorted the facts and made this claim for the purpose of spreading false information to ordinary people who are not familiar with stock trading to obscure the nature of the case.”
“It is the role of foreign securities companies to find buyers, and they do not know and cannot know the buyers,” he added.
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