The stock price of YounGeng, a listed company on the securities market, is weak during trading on the 3rd. This is reportedly due to a financial investor, identified as a 'third force' that was rumored to participate in the management rights dispute of YounGeng, selling shares on the market. However, this financial investor noted that some of the stocks purchased at a high price at the end of last year were disposed of due to forced selling.
As of 2:20 p.m. on this day, YounGeng is trading at 4,660 won, down 900 won (16.19%) compared to the previous trading day.
Since the second half of last year, the possibility of a management rights dispute between YounGeng's largest and second-largest shareholders has been raised, and some financial investors have also purchased shares. These investors have reportedly suggested an alliance with The One MTS, the second-largest shareholder of YounGeng.
Since the end of last month, there have been rumors in the market that these financial investors have secured more than 5% equity and are expected to make a public announcement soon. However, no relevant announcement has been made yet.
Currently, the largest shareholder of YounGeng is a special relationship group including Chairman Park Ji-hyang and CEO Yu Ji-won, with a total equity stake of 16.89%. Excluding the company's employee welfare fund equity (7.50%), it is 9.39%. The One MTS reported that according to its public announcement at the end of November last year, its equity ratio was 7.78%, but it stated that it became the largest single shareholder by increasing its equity to about 10% by the end of the year.