As executives from the medical artificial intelligence (AI) corporation Lunit have been pointed out for employing a "trick" to avoid prior disclosure, a contrasting situation has arisen at Meritz Financial Group. This time, the company bought back its own shares for less than 5 billion won.
According to the Financial Supervisory Service electronic disclosure system on the 18th, Kim Yong-beom, vice chairman of Meritz Financial Group, purchased 50,000 shares of Meritz Financial Group at an average price of 98,593 won from the 16th to this day. Accordingly, the equity has increased from 0.17% to 0.21%.
Market observers note that Vice Chairman Kim acquired the maximum amount he could purchase without prior public disclosure under the insider trading prior disclosure system. Calculating the amount Kim purchased in the market this time, it amounts to about 4.93 billion won.
Starting in July of this year, major shareholders owning more than 10% of the equity, company executives, and strategic investors (SI) are required to publicly disclose the transaction price, quantity, and period at least 30 days in advance when trading 1% or more of the equity or transactions exceeding 5 billion won.
Recently, various movements have been detected among listed companies attempting to evade the insider trading prior disclosure system. On this day, five executives from the medical artificial intelligence (AI) corporation Lunit faced criticism for employing a "trick" while conducting a block deal (large-scale transaction outside regular trading hours).
They sold 64,156 common shares at 77,934 won each. When calculating the selling amount per person, it totals 4,999,993,704 won. They managed to sell just shy of the 5 billion won threshold where prior disclosure obligations arise. Lunit, which had seen its stock price soar recently, closed down 10.26% at 75,200 won.