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Individual investors (ants) were driven to the crisis of delisting. Osstem Implant(113,300 -2.50%)are diligently seeking Osstem Implantwas at a crossroads for delisting, but stock trading resumed after about four months. Even in the case of internal embezzlement worth more than 220 billion won, the ants believe that ‘the corporate value has not been damaged’.
According to the Korea Exchange on the 5th, Osstem Implantclosed at 113,300 won, down 2,900 won (2.50%) from the previous trading day. It went up and down right after trading resumed on the 28th of last month, but is trading at the 110,000 won level. Its market capitalization is 1.6 trillion won.
previously Osstem Implant On the first day of resumption of trading, the market closed at 112,000 won, down 9,000 won (7.44%) from the opening price (121,000 won). This is 21.51% lower than the stock price on December 30 last year (142,700 won) just before the suspension of trading. The market cap also fell by that much compared to the 2 trillion won before the embezzlement incident.
Osstem ImplantSince last January, trading was suspended for a long time, and in accordance with the KOSDAQ market business regulations, bids were received between the lowest asking price (71,400 won) and the highest asking price (285,400 won) before the opening. (initiation price) was decided.
previously Osstem ImplantThere was an incident where the head of the company’s finance team embezzled 221.5 billion won of the company’s money. Trading has been suspended since January 3rd for reasons of delisting. Trading resumed on the 28th of last month as the Korea Exchange decided to maintain the listing.
Right after the resumption of trading, until the 3rd of this month, individuals purchased 111.1 billion won worth of stocks. Institutions also made a net purchase of 38.5 billion won. On the other hand, foreigners sold 153 billion won. Individuals see their own low-priced buying opportunity. Considering the stock market volatility, such as the recent Fed rate hike and the Ukraine crisis, it is considered a fair price.
However, stock market experts say the situation needs to be watched more closely. In fact, the stock market Osstem ImplantConsidering that there is no big problem with the company’s value given the sound earnings flow, the company advises that stock price volatility may be large in the short term, so caution should be taken.
Recently, Samsung Securities Osstem Implant We lowered our target price to 140,000 won and Mirae Asset Securities lowered it to 160,000 won. This is 12.5% and 15.7% lower than the previous target price, respectively. In the case of Samsung Securities, the investment rating was downgraded from ‘buy’ to ‘hold’ (hold). Seo Geun-hee, a researcher at Samsung Securities, said, “There is a possibility that the stock price may decline due to the company’s lack of monitoring system for large-scale embezzlement.” There is a possibility that it will be reflected as a loss.”
Kim Choong-hyeon, a researcher at Mirae Asset Securities, advised to be careful about ‘reputation risk’ even though there was no damage to corporate value. “Cash equivalents decreased due to some amortization of the amount of embezzlement, but cash flow improvement seems to be maintained thanks to a solid operating situation.” I can’t see it,” he said. He added, “There is a possibility that institutional and foreign sales may occur due to designation of stocks, as well as sales volume due to reputational risk.”
Ryu Eun-hyuk, staff reporter at Hankyung.com [email protected]
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