The National Pension Service recently disposed of over 2 million shares of ISU PETASYS over the past two months. The decline in the stock price appears to be due to ISU PETASYS's move to raise capital.
According to the Financial Supervisory Service's electronic disclosure system on the 6th, the National Pension Service sold 2,089,753 shares of ISU PETASYS from November to December last year. During the same period, the National Pension Service's stake in ISU PETASYS decreased from 10.74% to 7.43%, a reduction of 3.31 percentage points.
On November 5, 2024, the National Pension Service net sold 717,955 shares of ISU PETASYS. At that time, rumors circulated in the market that ISU PETASYS would seek a capital increase to acquire the carbon nanotube (CNT) manufacturing company JEIO. As ISU PETASYS actually moved forward with the capital increase for the acquisition of JEIO and expansion, the National Pension Service sold an additional 674,744 shares of ISU PETASYS on November 18, 2024.
The National Pension Service also dumped 697,024 shares of ISU PETASYS into the market on the 12th of last month. The Financial Supervisory Service had issued a temporary halt on ISU PETASYS's capital increase, but it was the day ISU PETASYS expressed its intent to continue pursuing the capital increase by submitting a corrected report. Each time ISU PETASYS showed its determination for a capital increase, the National Pension Service sold shares.
The Financial Supervisory Service demanded again on the 23rd of last month that ISU PETASYS submit a corrected report regarding its capital increase. ISU PETASYS has not yet submitted the corrected report. If a corrected report is not submitted within three months of the suspension of the effectiveness of the securities filing, it will be deemed to have retracted its capital increase under the Capital Market Act.
However, ISU PETASYS announced through a disclosure on the 2nd that there has been no confirmed decision regarding the abandonment of the acquisition of JEIO.