Korean retail investors prefer their value trap

SK Telecom Co

27/01/2022 02:11

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Robyn Mak
    HONG KONG, Jan 27 (Reuters Breakingviews) - LG Chem and SK
are spinning off prize units, hoping to shrink their
conglomerate discounts. They have met heavy resistance from
individual shareholders panicked about dilution. Buybacks and
dividends would be more persuasive than jargon about unlocking
value.
    Full view will be published shortly.
    Follow @mak_robyn https://twitter.com/mak_robyn on Twitter 
    
    CONTEXT NEWS
    - LG Energy Solution shares opened up 99% on their debut on
Jan. 27 to 597,000 won before falling down to 479,500 won by
late-morning trading in Seoul. 
    - The battery maker, 82%-owned by LG Chem, raised 12.8
trillion won ($10.8 billion) in South Korea’s biggest initial
public offering ever after pricing shares on the top of the
range, at 300,000 won.

 (Editing by Pete Sweeney and Katrina Hamlin)
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