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| Title | Daegu City Gas, is Likely to be Free from Administrative Issue | 2005.12.28 |
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FROM: Daegu City Gas is likely to be free from the administrative issue during January next year as the sales from the old shares through public offering satisfied the requirements for the dispersion of the stocks. According to the result from the public offering of the old shares sales between December 26 and 27, more than 800,000 stocks are applied for subscription, which exceeds the required number of stocks for the dispersion of the stocks. Unlike the general capital increase which takes place through the public offering after the issue of new stocks, the public offering for old shares offers the stocks that are already issued, and they can be disposed later. Daegu City Gas has also satisfied the requirements for the quantity of stocks through the liquidity provider(LP) agreement with Daeshin Securities on December 23. Although the stocks of Daegu City Gas is one of blue chips in the KOSPI, the company was under the administrative issue as it could not satisfy the requirements for the dispersion of minority shareholders and volume of trading. Considering that the company is likely to be free from the administrative issue soon, the market expects that the stock price of Daegu City Gas will increase later. |
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