Dentium, Dio Return All Gains... Only Dentis Holds Up Well
[Asia Economy Reporter Minwoo Lee] After the 180 billion won embezzlement scandal at Ostem Implant, the number one company in the implant industry, the stock prices of implant companies that had rebounded on expectations of a windfall profit have fallen again.
As of 9:39 a.m. on the 10th, Dentium's stock price recorded 67,300 won, down 3.58% from the previous trading day. The stock price, which had risen on expectations of a windfall profit following the embezzlement scandal at Ostem Implant, the industry leader, has returned to its original level.
Earlier, on the 3rd, Ostem Implant announced that it was suspected of embezzlement and breach of trust amounting to 188 billion won, equivalent to 91.81% of its equity capital. As a result, Dentium, the second-largest company in the industry, saw its stock price soar to 81,500 won during trading on the 5th. Compared to December 30, the day before Ostem Implant's embezzlement disclosure, it surged about 16.8% in just three trading days. Although there has been no actual contraction in corporate activities or sales decline at Ostem Implant yet, the expectation of a windfall profit due to the decline in trust in the top company is seen as the cause. However, the stock price, which rose like this, has been declining day by day and has fallen to a level lower than before the embezzlement disclosure.
DIO showed a similar trend. On the 5th, it recorded 42,200 won during trading, rising about 13.0% compared to the closing price of 37,350 won the day before Ostem Implant's embezzlement disclosure. However, as of 9:39 a.m. on the same day, it recorded 36,850 won, falling more than the previous gains. Only Dentis maintained a level about 18% higher at 10,050 won compared to the day before the embezzlement disclosure at the same time. However, compared to 10,800 won recorded during trading on the 6th, it fell about 2.8%.
In the case of Dentium and DIO, a large volume of foreign selling was also detected during this period. Foreign investors have net sold about 14.5 billion won worth of Dentium shares since the beginning of this year until the 7th. This is more than the total net selling amount of 13 billion won in the fourth quarter of last year. DIO also net sold 4.3 billion won worth during the same period, which is twice the total net selling amount of 2.2 billion won in the fourth quarter of last year.
A financial investment industry official said, "The damage Ostem Implant has suffered may be significant, but since the foundation it has built so far is very solid, it is necessary to observe whether it will affect product preference," adding, "In the current situation where the market is shrinking both domestically and internationally, it is necessary to carefully consider investing in stocks that have surged due to such a specific incident."
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