Shares of listed companies Gabia, Dentium, and SOLUM were rising early on the 29th on news that Align Partners, an activist fund that holds equity in them, had successively changed its holding purpose.
As of 9:17 a.m. that day, Gabia was trading at 28,100 won, up 2,000 won (7.66%) from the previous session. Dentium and SOLUM were also trading at the same time up 5.36% and 0.88% to 59,000 won and 18,410 won, respectively.
Align Partners disclosed after the regular session closed the previous day that its equity stake in cloud specialist Gabia had expanded to 9.03% from 8.04%, and said it would change its holding purpose from "general investment" to "management influence."
It also increased its equity stake in global implant company Dentium to 8.16% from 7.17% and changed the holding purpose, while for electronic shelf label company SOLUM it kept the equity stake unchanged and changed only the holding purpose to management influence.
The shift in holding purpose to management influence is seen as drawing buying from investors on the view that it is preparing shareholder action ahead of next year's regular shareholders meeting. This is because Align Partners could demand stronger shareholder-return policies from the listed companies. Align Partners is currently the No. 2 shareholder of Dentium and SOLUM.