Inventory Market Replace: Newvotech proclaims free capital discount and paid capital improve – Owl Publicity Warning

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Submitted2024.05.16 08:35
Edit2024.05.16 09:17

One other ‘owl publicity’ warning

After the market closes simply earlier than the vacations, dangerous information continues to occur.
Newvotech proclaims free capital discount and paid capital improve

They stated they may introduce common night time owls in 2019, however
There aren’t any corporations listed but.

Photograph = Getty Photographs’ ‘Owl Info’, which reveals adverse data forward of the financial institution vacation, is being repeated. Even earlier than the Youngsters’s Day and Buddha’s Birthday holidays, data that might have a adverse affect on the inventory value, resembling declining efficiency and non-payment of bonds, was introduced one after one other. one another In a state of affairs the place there aren’t any important sanctions, it appears that evidently buyers should be particularly cautious.

In line with the Monetary Analysis Service Digital Disclosure System on the sixteenth, KOSDAQ-listed Newvotech introduced that it had determined to cut back free capital on the 14th. After discount of free capital, 5 shares of frequent inventory might be mixed into 1 share. The explanation for the discount is to enhance the monetary construction by making up for deficits. Neuvotech’s monetary state of affairs is getting worse. On the finish of final 12 months, Newvotech misplaced 29.4 billion gained, a rise of about 6 billion gained in a single 12 months. Working losses was a deficit of 700 million gained. The online loss elevated to 4.8 billion gained. As well as, as a way to enhance its monetary construction, Newvotech is finishing up a paid-up capital improve allotted to shareholders after a free capital discount. The corporate plans to lift 9.6 billion via a paid-up capital improve given to shareholders. The corporate introduced that 6 billion of this earnings might be used as debt compensation funds. This may be learn as a sign to shift the burden of managing the corporate to shareholders.

Bulletins made after the inventory market closes or simply earlier than weekends or holidays are known as ‘owl bulletins’. The Korea Change considers bulletins made after the market shut on the final buying and selling day previous the shut of greater than three days to be owl bulletins. Ads of apparent optimistic information are excluded Photograph = Getty Picture Financial institution There have been locations the place gross sales within the first quarter have been beneath 300 million gained. If you happen to have a look at Hankook Know-how’s first quarterly report, the gross sales division is left clean. The corporate’s gross sales fell within the first quarter of 300 million gained, and the explanation was a lower in orders. The Korea Change’s KOSDAQ Market Headquarters introduced that grounds for a considerable evaluation of itemizing eligibility have been added as first quarter gross sales have been confirmed to be lower than 300 million gained. Hankook Know-how’s enterprise has been suspended from February 17, 2022. It’s because gross sales within the fourth quarter of 2021 have been lower than 300 million gained. There have been additionally shares that obtained penalty factors for not paying the disclosure violation penalty. On the third of final month, Genenbio was declared an organization with untrue publication and was given 9.5 penalty factors and a positive of 38 million gained. Nevertheless, as a result of failure to pay by the deadline, further penalty factors have been utilized, and the accrued penalty factors elevated to 30.9 factors. If the cumulative penalty factors for the previous 12 months are 15 or extra, it’s a cause to make a considerable evaluation of the eligibility of itemizing. Buying and selling in Genenbio inventory has been suspended since March 22 because of the rejection of the audit opinion.

Owl calls have been repeated in earlier holidays. Forward of the three day vacation celebrating Youngsters’s Day (5 Could), 539 public notices have been introduced on the third. Amongst these, 292 calls have been introduced after the common market closed at 3:30 p.m., or 54.2% of the entire.

To guard buyers, the Korea Change renames the Owl notification on the primary buying and selling day instantly after the vacation. Nevertheless, since owl calls are repeated yearly, it’s identified that the authorities should take lively motion. In 2019, the Monetary Providers Fee introduced a growth plan to eradicate such owl disclosures and determined to publish a listing of corporations that re-disclosed key management-related data simply earlier than the vacations and on the closing days of the 12 months. These below disclosure are corporations which have made Owl disclosures greater than twice previously 12 months or greater than 3 times over the previous two years. Nevertheless, no corporations have been added to the record but after the system was launched.

Hankyung.com Reporter Jinyoung-gi [email protected]