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[Alpha Biz=(Chicago) Reporter Kim Jisun] Market interest grew as PCL decided to sell 4 million shares to the US alternative investment group GEM.
However, there is a concern about market overheating in that the first priority is to find a target to sell PCL shares to GEM among shareholders, not direct investment in PCL.
According to Seoul Economic Daily on the 16th, GEM's investment has not had a real impact on PCL's financial situation. So far, the investment plan has yet to be finalized, and PCL has decided to connect shareholders who are willing to sell their stakes to GEM in the future. No additional funds will be secured because the purchase of shares is not made through paid-in capital increase.
However, the share price of PCL skyrocketed on that day. After hitting the upper limit after the news of GEM's equity investment was announced at the beginning of the market, it has maintained an increase of mid-20% at 3:30 p.m. compared to the closing price of the previous day. An official of the Korea Exchange said, "It is to find and connect sellers so that GEM can buy stocks. We are not making a new capital increase."
According to the Financial Supervisory Service, the largest shareholder of PCL is Kim So-yeon, who holds about 15.29 million shares (29.68%). Olix (226950) has about 4.13 million shares (8.02%), and CEO Lee Dong-ki, CEO of Olix and CEO Kim's spouse, has about 980,000 shares (1.9%). Depending on the status of stake holdings, some market watchers have also observed that GEM could take over the stake in Olix. Olix stated that no decision has been made regarding this.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
