Business · Markets · 2 days ago
Former Osstem chief’s Jusung Engineering stake has risen more than 12-fold
Choi Kyu-ok, former chairman of Osstem Implant, bought 4,179,421 shares in South Korea’s Jusung Engineering in July 2023.
The purchase made him the company’s second-largest shareholder, with an 8.66% stake.
He reportedly paid prices in the low 20,000-won range per share.
Jusung makes semiconductor deposition equipment, and its shares have climbed as semiconductor equipment stocks rallied.
The share price has risen more than 12-fold since Choi bought in, making him one of the rally’s biggest beneficiaries.
At the close on October 8, Jusung’s market value was 12.2478 trillion won, and its shares briefly made it the second-largest company on the KOSDAQ that day.
The story gives no further plans or next steps for Choi or the company.
Former Osstem Implant chairman Choi Kyu-ok bought 4,179,421 shares of Jusung Engineering in July 2023, acquiring an 8.66% stake.
The shares were bought on the open market at a price in the low 20,000 won range each.
Jusung Engineering’s share price has since risen more than 12-fold, according to Maeil Business.
The company’s market value reached 12.2478 trillion won based on the October 8 closing price.
Its shares briefly lifted it to second place among KOSDAQ-listed companies by market value.
- Who
- Choi Kyu-ok, former chairman of Osstem Implant, bought the shares.
- What
- He acquired 4,179,421 Jusung Engineering shares, equal to an 8.66% stake.
- When
- July 2023.
- Where
- On the open market in South Korea.
- Why
- Not stated
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Choi bought 4,179,421 Jusung Engineering shares on the open market.
Jusung Engineering’s shares had rebounded to more than twice their late-July low, according to the article.
Jusung Engineering’s market value was 12.2478 trillion won at the regular-session close.
Maeil Business reported the company had briefly ranked second on KOSDAQ by market value during the day.
- Buyer
- Choi Kyu-ok, former Osstem Implant chairman
- Shares acquired
- 4,179,421
- Stake acquired
- 8.66%
- Purchase timing
- July 2023
- Market value
- 12.2478 trillion won at the October 8 close
- Share-price gain
- More than 12-fold, according to Maeil Business
Sources
Related news
A16z seeks chip and robotics partnerships in South Korea
South Korea central bank chief apologizes over warnings on leveraged ETFs
Hitachi Energy expands Saudi role as power grid investment grows
South Korea to create 3 trillion won fund for overseas construction projects
South Korea’s early October exports hit a record, led by chips
Lotte to present mobility businesses at Japan trade event
SK chief says Honam chip project can start before power and water arrive
South Korean ship completes Arctic shipping trial
South Korean chip-cluster stocks rise after SK chief visits planned site
HiteJinro to make Kirin Ichiban beer cans in South Korea
South Korea’s Supreme Court rules for Google Korea in tax dispute
