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Story of a Big Player from Gangnam (Web Novel) - Chapter 886: Selling Major Shareholder’s Stock (2) – Part 1
Chapter 886: Selling Major Shareholder’s Stock (2) – Part 1
This chapter is updated by NovelFree.ml
Gun-Ho had a large lunch that day. After he came back to his office, he had his afternoon coffee before sitting at his desk. Once he sat at his desk, he opened the stock trading application.
“Hmm, Dyeon Korea’s stock buy requests have noticeably reduced.”
Gangnam Stock Brokerage Company was using a different strategy in selling Dyeon Korea’s stock. When SH Investment Partners’ President Geun-Soo Son was selling Gun-Ho’s 3 million Dyeon Korea’s stock, he let other sellers have a chance to sell their stock as well, but this time, whenever they see buy requests, they threw a massive number of the stocks at once in the stock market and made the market quiet. Gun-Ho opened the stock discussion forum for Dyeon Korea’s stock.
“Evacuate, everyone. So many sell requests are pouring into the stock market now.”
“Who the f*ck is selling that many?”
“Gangnam Stock Brokerage Company is throwing a massive amount of stock. Mirae Asset, KB Investment & Securities, Shinhan Investment, and Yuanta Securities Korea are trying to buy them all, but the amount that they are selling looks limitless.”
“Are we going to see a huge price drop today?”
“Sh*t. I just bought Dyeon Korea’s stock today. It’s my first day. T.T”
The following day, the media reported about Dyeon Korea’s major shareholders’ selling their stock.
[As a response to the recent dramatic price increase of Dyeon Korea’s stock, Dyeon Korea’s major shareholders are selling their stock. Its stock price went up to 48,000 won per share, and now the price is rapidly decreasing due to its major shareholder’s sale of their own stock. Dyeon Korea’s stock price is now 42,000 won. Dyeon Korea’s stock was recently classified as a theme stock.]
As Gangnam Stock Brokerage Company continued to sell Dyeon Korea’s major shareholders’ stock in the stock market, the stock manipulators started selling their Dyeon Korea’s stock as well. It seemed that they gave up fighting against it, and the current price was good enough for them to make profits anyway. Every stock discussion forum designated for Dyeon Korea’s stock was noisy with complaining and blaming Gun-Ho.
“Gun-Ho Goo, you son of b*tch, he is selling his own stock.”
“That bastard is trying to make money not by running his business but investing in the stock market. He is an a*shole.”
“Are those two—Dyeon Korea and the politics—working together to make money?”
“When is their next board meeting? Let’s protest.”
“Oh, my. What am I going to do? I bought the stock at 47,000 won because my friend recommended it to me. The price has dropped to 36,000 won.”
“The one above, you’d better sell the stock now while you can. The price will keep falling.”
With the substantial amount of the stock that Gangnam Stock Brokerage Company was putting in the stock market for sale and the stock that other people who decided to play along with them, Dyeon Korea’s stock price dropped dramatically.
Gun-Ho received a call from the branch manager of Gangnam Stock Brokerage Company.
“We completed selling Dyeon Korea’s stock of 500,000 that GH Mobile was holding and another 500,000 that Lymondell Dyeon had.”
“So, we’ve sold 1 million Dyeon Korea’s stock so far.”
“Yes, sir. And, I notified this to the Internal auditor at Dyeon Korea, so he can make a public announcement about it.”
“How much did we sell per share on average?”
“We started with the price of over 40,000 won, and later, we sold 30,000 won something after the price had dropped. So, the average price that we sold them for was a little bit over 40,000 won, sir. After deducting relevant stock exchange tax and fees, I will deposit 40 billion won in Dyeon Korea’s business bank account today.”
“Good job, Mr. Branch Manager.”
Right after getting off the phone with the branch manager, Gun-Ho gave a call to the internal auditor.
“Have you received a call from the branch manager of Gangnam Stock Brokerage Company, about the public announcement that we have to make on the major shareholder’s shares sold?”
“Yes, sir. I already made the announcement immediately after I received his call.”
“We are expecting to receive 40 billion won in our company’s business bank account soon. Please verify it, and once you are confirmed with the receipt, inform that to Mr. Adam Castler.”
“Yes, sir.”
“When you talk to Mr. Adam Castler, make sure that he understands that each party—GH Mobile and Lymondell Dyeon—sold 500,000 shares, and that left each with the company ownership interest of 32.69%.”
“Understood, sir.”
“The last time when we conducted our initial public offering, the amount of the fund that we made from it was 15.6 billion won. Is it correct?”
“Yes, it is correct, sir. At that time, we issued 600,000 shares, and we made 15.6 billion won out of it.”
“As we are adding 40 billion won to it, the company currently has 55.6 billion won, right?”
“Yes, sir.”
“Open a separate company’s bank account, and transfer that 55.6 billion won to it.”
“Yes, sir. Do you want the fund that we made by selling the products to the new bank account as well?”
“No, don’t do that. We will keep that fund in our current bank account.”
“Understood, sir.”
Dyeon Korea had 55.6 billion won that was made as capital earnings, in addition to their income from their business activities. The amount of 55.6 billion won was more than enough money to open a few additional new companies or acquire another business by M&A. Dyeon Korea could do anything with that money. Gun-Ho was thinking about what he would do with that money when he received a call from the branch manager of Gangnam Stock Brokerage Company again.
“Sir, I just transferred 40 billion won to the company’s bank account.”
Suddenly, Gun-Ho felt like he might have taken someone else’s money, and he didn’t feel good about it. Gun-Ho believed that when he made money, someone else would lose that much money, just like a zero-sum game.
“I feel bad when I think about those people who bought Dyeon Korea’s stock very recently.”
“Oh, my, sir. You shouldn’t think that way. Otherwise, it would become really difficult for you to continue to invest in the stock market. People sometimes make money, and also they sometimes lose money too. That’s the risk that everyone knowingly takes when they invest in the stock market.”
“Hmm.”
“Sir, since Dyeon Korea is now loaded with enough funds, would you like to acquire a good company through M&A? Or, I have a good CB (convertible bond) that I want to recommend to you, sir.”
“Well, I will have to think about it.”
“Of course, sir. When you decide, please give me a call at any time. I will be ready here for your request, and I will provide you with the best service, sir.”
“When we made our initial public offering, the unit share price was 26,000 won, and then as we split it into 5, the unit share price became 5,200 won. Do you think Dyeon Korea’s stock price will drop to that low someday?”
“Are you thinking of buying them back, sir? I believe that it would be very hard to see 5,200 won again. Moreover, the stock is already classified as a theme stock. With that fact, even though its major shareholders sell all of their stock and the stock price drops substantially, Dyeon Korea’s stock will still be popular.”
“You think so?”
“Think about it, sir. Party Leader Jin-Woo Lee implied that he might run for President even though he didn’t clearly give his decision about it. Moreover, his little brother is currently working for Dyeon Korea as its senior director. As long as his little brother is holding his senior director position with Dyeon Korea, the company’s stock price will never go down below 20,000 won. In other words, the source that made Dyeon Korea as a theme stock in the first place hasn’t depleted yet. Party Leader Jin-Woo Lee’s other future statement will well make Dyeon Korea’s stock price fluctuate again. You will see.”
