bearish
Kum Yang: Auditor Raises Flags on Viability as a Going Concern + Chairman Ryu Could Sell Shares
748 Views28 Mar 2024 19:42
On 28 March, the external auditor of Kum Yang (Samil PWC) raised warnings about the viability of Kum Yang as a going concern. This is likely to negatively impact Kum Yang's share price.
Boomeranged on Wed, 3 Apr 2024 20:39
After the market close on 3 April, Kum Yang reported that Chairman Ryu sold 4.55% of the company in a block deal at a price of 106,049 won (7.3% lower than current price). The amount raised was 244 billion won. Chairman Ryu sold the shares to lend funds to construct Kum Yang's rechargeable battery factory. This block deal is likely to further negatively impact Kum Yang's share price.
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