Stick Investment Changes Hands... Chairman Yohwan Do Sells Stake to Miri Capital

Sells 11.4% Out of 13.5% Stake Held
Existing Largest Shareholder Miri Capital Increases Stake to 25%

Yohwan Do, who founded Stick Investment, one of the first-generation private equity fund (PEF) managers in Korea, is selling most of his shares to the U.S.-based asset manager Miri Capital.

On January 20, Stick Investment announced that Chairman Do signed a contract on the same day to transfer 11.44% (4,769,600 shares) of his common shares to the Miri Strategic Emerging Markets Fund LP, managed by Miri Capital. The contract amount is approximately 6.01 billion KRW, with a price per share of 12,600 KRW. This is 25.2% higher than the closing price of 10,060 KRW on the same day.

As a result, Miri Capital’s stake will nearly double from 13.48% to 24.92%. While Miri Capital remains the largest shareholder, it has now secured a more solid stake. Chairman Do’s stake will decrease from 13.46% to 2.02%.

Yohwan Do, Chairman of Stick Investment