Reporting notes
Impersonating the CEO and a global investment bank
No competition due to pre-public offering, discounted public offering price
Impossible under the Capital Markets Act… Investors need to be careful
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“Did you apply for Hyundai Marine Solutions? The public offering price is 83,400 won, but we can do it right now at 50,000 won per share with a special allocation.
The initial listing price is expected to be over 100,000 won, and we will provide final guidance until the selling point before listing.
After the call ends, you will receive a text message from JP Morgan. Please deposit 10 million won as margin into the IR account of the major shareholder.” (Summary of call from HD Hyundai Marine Solutions public stock subscription fraud company)
From CEO Lee Ki-dong to impersonating global investment bank (IB) JP Morgan. As subscriptions for HD Hyundai Marine Solutions heat up, investment scams that lure individual investors with the lure of ‘getting rich in a flash’ are also on the rise. This type of fraud, which began to surface this year taking advantage of the boom in the public stock market, appears to be becoming more sophisticated in its techniques.
According to the securities industry on the 26th, HD Hyundai Marine Solutions, which is considered the largest company in the domestic initial public offering (IPO) market this year, collected margins approaching 1.3 trillion won on the 25th alone, the first day of public subscription for general investors. 391,790 people placed orders through five securities companies (KB Securities, Shinhan Investment & Securities, Hana Securities, Daishin Securities, and Samsung Securities), and the industry predicts that the final 1 million orders and 30 trillion won in margin will be collected.
While investors are competing over which securities company would be most advantageous to apply for subscription through, a ‘dark hand’ is seducing individual investors behind the scenes. They approach individual investors with the bait of ▲global investment banks, ▲specially discounted public offering price, and ▲pre-public offering method that does not require competition. A ‘real-like’ homepage is a bonus.
In conclusion, all methods claimed by fraud groups are impossible under the current Capital Markets Act. First of all, subscription for public offering stocks is possible only through the securities company in charge of listing. In the case of HD Hyundai Marine Solutions, subscription itself is not possible except for the five domestic securities companies in charge of management.
It is also impossible to purchase publicly offered shares at a discounted price in the name of a special public offering or to conduct a pre-public offering separately from a general public offering. The public offering price is determined through institutional investor demand forecasting conducted before general subscription, and can be confirmed through published securities reports.
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The fraud group claimed that the volume of this special public offering is the volume of old shareholders and is different from the general subscription made by securities companies, but this is also close to impossible.
Typically, when an unlisted company’s stock is traded in the over-the-counter market, it is when an employee who holds employee stock sells it or when the stock held by a specific fund is released. It is not impossible for individual investors to participate in trading old stocks in the over-the-counter market, but there is no case where a specific management company gathers together individual investors to purchase as much as 300,000 shares like now.
The investment industry, including the Financial Supervisory Service, is preparing measures to eradicate fraudulent practices, while also emphasizing that individual investors need to be vigilant. In fact, fraudsters cleverly implement a homepage modeled after the company’s official homepage, but in most cases, when you click on the ‘tab’ in the text, such as the business introduction, it does not lead to the corresponding link.
In relation to this, HD Hyundai Marine Solutions said, “We are currently providing warnings about IPO-related phishing scams through our website to prevent victims from becoming victims.”
Invest Chosun Paid Service Posted at 13:05 on April 26, 2024
