[Featured Stock] US Activist Fund Dalton's Offensive... Kolmar Holdings Up 3%

The US activist fund Dalton Investment has officially announced its intention to participate in the management of Kolmar Holdings, the holding company of Korean cosmetics manufacturing and development company (ODM) Kolmar Korea, causing the stock price to rise.

As of 9:40 AM on the 18th, Kolmar Holdings is trading at 9,580 KRW, up 300 KRW (3.23%) compared to the previous trading day.

According to the Financial Supervisory Service's electronic disclosure system, Dalton changed its purpose of holding Kolmar Holdings shares from 'simple investment purpose' to 'management participation purpose' on the 14th. Additionally, it increased its stake from 5.02% to 5.69% by purchasing additional shares.

Previously, Dalton had stated its holding purpose as 'simple investment' when it purchased shares of Kolmar Holdings in November last year.

Dalton will attempt to enter the board of directors at Kolmar Holdings' regular shareholders' meeting scheduled for the 31st. Dalton has submitted a shareholder proposal nominating Lim Seong-yoon, co-CEO of Dalton Korea, as an outside director.

Dalton mainly employs a strategy of medium- to long-term investment in undervalued companies and actively engages in shareholder activism to enhance corporate value. In 2019, it raised its voice against Hyundai Home Shopping, demanding that the company return $365 million (approximately 528.6 billion KRW) to shareholders through dividends and other means.