The share price of private equity fund (PEF) manager STIC Investments was up more than 10% early on the 20th. After it announced plans to boost corporate value, investor buying sentiment appeared to pile in.
As of 9:50 a.m. that day, STIC Investments shares were trading at 10,120 won on the main board, up 10.84% (990 won) from the previous day.
Earlier, on the 19th, STIC Investments said in a filing that it would reach 15 trillion won in assets under management (AUM) by 2028. It also introduced TSR as a shareholder return metric and proposed achieving an average annual level of 20%. In addition, it specified that it would raise return on equity (ROE) to 10% or higher and fee-related revenue (FRE) margin to 35% or higher.
This move came in response to a demand by activist fund Align Partners Asset Management to disclose a plan for value-up. Align Partners Asset Management is the third-largest shareholder of STIC Investments, holding 7.63% equity.