[Asia Economy Reporter Ji Yeon-jin] Cuckoo Holdings fell more than 10% intraday on the 4th following news of a decrease in the largest shareholder's stake.
As of 10:16 AM on the day, Cuckoo Holdings was trading at 20,500 KRW, down 10.9% from the previous day. It recorded an intraday low of 22,500 KRW, down 11.18%.
The sharp decline appears to be due to the sale of shares by the largest shareholder's family. On the same day, Cuckoo Holdings announced that the number of shares owned by the largest shareholder and related parties decreased by 750,000 shares, reducing the ownership ratio from 66.96% to 64.85%, a decrease of 2.11%.
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