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ISU Petasys |
[Alpha Biz= Kim Sangjin] ISU Petasys' stock price has dropped by more than 9%. The negative market reaction appears to be linked to the company's decision to press ahead with a large-scale rights offering and the acquisition of JEO.
According to the Korea Exchange on Tuesday, as of 2:58 p.m., ISU Petasys' stock was trading at 26,650 KRW, down 9.20% (2,700 KRW) from the previous day.
According to financial industry sources, ISU Petasys' management stated during a meeting with the Small Shareholders Alliance that "We cannot easily withdraw from the JEO acquisition due to the contract" and added, "We will come up with plans to improve governance and enhance shareholder and corporate value by the first half of this year."
The market is interpreting that ISU Petasys is determined to push through the rights offering and JEO acquisition, leading to a sharp decline in the stock price in the afternoon.
Meanwhile, last month, ISU Petasys' stock price had rebounded due to expectations of a potential cancellation of the rights offering after the Financial Supervisory Service demanded a resubmission of the correction report for the rights offering.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
