[Special Stock] L&F Falls Over 4% on First Day After Moving to KOSPI

LNDF is showing weakness on the first day of its transfer to the KOSPI market.

As of 9:25 a.m. on the 29th, LNDF was trading at 152,600 KRW, down 6,800 KRW (4.27%) from the previous trading day. It started at 61st in market capitalization ranking.

LNDF, established in July 2000, is a company engaged in the manufacturing of cathode active materials for secondary batteries, with 36,247,825 common shares listed on the KOSPI market on this day.

Rather than a stock price increase due to the transfer listing, it is expected that the stock price will move depending on whether the secondary battery industry conditions improve. Noh Woo-ho, a researcher at Meritz Securities, said, "I am somewhat cautious about the recently perceived formula 'KOSPI transfer listing = stock price increase.' I believe that the inflow of funds after the new index inclusion is a temporary driver of stock price increase, and ultimately, if there is no significant change in the secondary battery industry conditions or LNDF's fundamentals, it will be somewhat difficult to resolve the structural undervaluation compared to competitors and maximize shareholder value."