Individual Investor Kim Seunghyun Sells All 867,000 Shares
"Wiped away my tears, took back my principal, and made my exit"
The disclosure posted by Seunghyun Kim, the second largest shareholder of Shinwon Comprehensive Development, a KOSDAQ-listed company, announcing the sale of his entire stake, has become a hot topic.
According to the Financial Supervisory Service Electronic Disclosure System on December 11, Kim disclosed that he had sold all 867,554 shares (7.4%) of Shinwon Comprehensive Development. The sale period was from November 13 to December 8. Given that the average share price of Shinwon Comprehensive Development during this period was around 3,100 won, it is estimated that Kim liquidated approximately 2.7 billion won in cash.
Reason for change and purpose of holding disclosed by Seunghyun Kim, the second largest shareholder of Shinwon Comprehensive Development, upon selling all his shares. Financial Supervisory Service Electronic Disclosure System
Regarding the reason for the report, Kim wrote, "I averaged down (purchasing more shares as the price fell to lower the average purchase price), and when the share price returned to my break-even point, I exited." For the purpose of holding, he stated, "I stopped averaging down... even ended up filing a shareholding disclosure," and added, "I think the major players stayed out because they thought I would dump my shares, so I wiped away my tears, secured my principal, and made an elegant exit."
He continued, "Shinwon Comprehensive Development? It's a good stock. The fair price? I believe it should be at least over 10,000 won-that's just common sense," and added, "I'm planning to pay off some loans and come back." He also said, "I'm just stepping out for a moment, not running away. 'I'll be back... I'll buy again...'"
Born in 1971, Kim first became known in September through a "report on large shareholdings," commonly referred to as a "5% disclosure." He listed his occupation as "company employee," and as of the end of the third quarter, he became the second largest shareholder after Chairman Woo Jin-ho.
Shinwon Comprehensive Development is a comprehensive construction company engaged in private apartment projects, luxury villa projects with its own brand, plant business, and pipe civil engineering projects. As of the third quarter of this year, the company recorded cumulative sales of 141.5 billion won and an operating profit of approximately 7 billion won. The company's share price fell to 2,400 won on November 5 but hit the upper limit on December 5. On this day, it closed at 3,835 won, up by the maximum allowable increase (30%) compared to the previous trading day.
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