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Photo = Leeno |
[Alpha Biz= Kim Jisun] Shares of Leeno Industrial fell sharply in after-hours trading following news of a large-scale stake sale by its largest shareholder.
As of 6:57 p.m. on April 24, the stock was trading at KRW 111,300, down 11% from its regular session close of KRW 124,400.
Earlier in the day, the company disclosed that CEO Lee Chae-yoon plans to sell 7 million common shares through block trades between May 26 and June 24, representing 9.18% of total outstanding shares.
The expected sale price is KRW 123,300 per share, with the total transaction value estimated at approximately KRW 863.1 billion. The company said the purpose of the sale is asset management.
Leeno Industrial, a leading semiconductor components and equipment supplier, has seen its share price nearly double since late last year amid improving industry outlook.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
