The Korea Herald

Amid widening probe into founder, Nexon affiliate sees 31% plunge in stock price

[THE INVESTOR] Nexon GT, an affiliate of game developer Nexon, saw its stock price plunge to a record low in 16 weeks amid the snow-balling investigation into founder Kim Jung-ju’s alleged involvement in insider trading.The company’s stock price dropped 31.3 percent from 13,200 won (US$11.60) on April 7 to 10,050 won on July 20 -- the lowest since Feb. 15 when the share price plummeted to 9,920 won.Kim Jung-ju, Nexon founder and the chairman of the game firm’s holding firm NXC. The Investor Kim,

July 20, 2016

Amid widening probe into founder, Nexon affiliate sees 31% plunge in stock price

[EQUITIES] Robust domestic demand to elevate Kia’s global sales in Q2

[THE INVESTOR] LIG Investment and Securities said on July 20 that Kia Motors will restore profits in the second quarter as robust domestic demand is filling up its slowing overseas sales. The brokerage predicted the carmaker would post 13.3 trillion won (US$11 billion) in sales and 700 billion won in operating profit in the April-June period, up 7.2 percent and 7.4 percent, respectively. On its home turf, car sales increased 16.3 percent largely due to the hot-selling K7 sedan, coupled with tax

July 20, 2016

Busan Bank raising $250m through CoCo bonds

[THE INVESTOR] Busan Bank, a subsidiary of BNK Financial Group, has sold contingent convertible bonds, or CoCos, worth US$250 million, the lender said on July 20. The 10-year additional tier 1 bond, which drew orders of almost US$2.4 billion, is priced with a coupon of 3.675 percent. “It is the lowest rate among US dollar-denominated CoCos ever issued in Asia since Basel III came into effect,” an official at Busan Bank said. The Basel III is a global regulatory framework on bank capital requirem

July 20, 2016

Optopac gets approval for KOSDAQ listing

[THE INVESTOR] Optopac, a South Korean electronic part manufacturer, was approved for listing on the secondary bourse KOSDAQ, the Korea Exchange said on July 19.The company will be listed on July 20, and the indicative share price has been set at 5,900 won (US$5.19). Established in 2003, the company supplies image sensors for cameras in smartphones and laptop computers. It posted 31.66 billion won in sales and a net loss of 356 million won last year. By Park Han-na (hnpark@heraldcorp.com)

July 19, 2016

Optopac gets approval for KOSDAQ listing

CJ HelloVision’s share price falls after failed merger with SKT

[THE INVESTOR] Mirae Asset Daewoo on July 19 lowered the target price of CJ HelloVision to 11,000 won (US$9.67) per share in the next 12 months after its failed merger with SK Broadband, the IPTV unit of SK Telecom. In the day, its share closed at 9,550 won, down 3.14 percent from the previous day. The brokerage said the Fair Trade Commission’s disapproval of the merger would affect negatively the overall attractiveness of the nation’s paid TV market that is crowded with smaller

July 19, 2016

CJ HelloVision’s share price falls after failed merger with SKT

Medytox Q2 earnings to beat expectations

[THE INVESTOR] Korean biopharmaceutical firm Medytox is likely to post stronger-than-expected earnings in the second quarter on robust growth of its hyaluronic acid dermal filler brand Neuramis, a local brokerage NH Investment & Securities said on July 19. “Medytox’s Q2 sales and operating profit were estimated at 31.2 billion won (US$27.43 million) and 18.4 billion won, respectively, up 42.8 percent and 31.4 percent on-year,” said Lee Seung-ho, an analyst at the securities firm. NH Investment &

July 19, 2016

Medytox Q2 earnings to beat expectations