99.32 million shares at 34 Korean companies face October lockup expiries

  • Korea Securities Depository will lift mandatory holdings at 34 Korean listed companies in October.
  • 99.32 million shares are scheduled for release, including 7.02 million on KOSPI.
  • HJ Shipbuilding & Construction will release 7,021,063 shares, or about 8%, on Oct. 28.

Lockup expiries will make 99.32 million shares at 34 Korean listed companies tradable in October, according to the Korea Securities Depository. The releases cover 7.02 million shares at one KOSPI company and 92.3 million shares at 33 KOSDAQ companies. HJ Shipbuilding & Construction will release 7,021,063 shares on Oct. 28, equal to about 8% of its issued shares. KOSDAQ releases begin with Rinsense Medical and Madup on Oct. 1 and include Skylabs, Lemon Healthcare, Remedy, Genexine and Kakao Games on later dates. Chae Bi, BBIA, Kakao Games and Lemon Healthcare account for some of the largest individual blocks. By release reason, 63.81 million shares fall under KOSDAQ market regulations and 35.51 million under the Financial Services Commission's Regulations on Issuance and Disclosure of Securities. Increased supply could create short-term overhang risk, particularly where released stock represents a large share of outstanding shares.

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