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[Alpha Biz=(Chicago) Reporter Kim Jisun] SBS closed up 5% on the 20th as rumors spread that Align Partners Asset Management (Align Partners) is securing some stakes in SBS and discussing ways to resolve undervalued stock prices. As Align Partners has achieved results in its activist campaign against SM, expectations that it will also show its skills in SBS are believed to have worked.
On this day, SBS closed at 42,750 won, up 2,300 won (5.69%) from the previous trading day. The SBS rose more than 17% to 47,600 won shortly after its opening, but later closed 5% higher with a slight decrease.
Earlier on the 19th, a local media outlet reported that Align Partners and SBS are discussing ways to solve the issue of undervalued stock prices. Align Partners, which judged that SBS's stock price, which has seen a sharp increase in operating profit over the past three years, could launch a shareholder activist campaign against SBS.
SBS's estimated operating profit last year is expected to be 180 billion won, up more than 20 billion won from 160 billion won last year. Operating profit, which was only 50 billion won in 2020, is expected to perform well this year thanks to the expansion of online video service (OTT) and the global trend of Korean content. SBS's stock price has risen nearly 25% this year, but Align Partners seems to have judged that there is room for SBS's stock price to rise further.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
