Neofect, a rehabilitation equipment maker whose stock price fell because it could not repay principal and interest on bonds, rose to a record high for two consecutive days.
On the 13th, Neofect is trading at 1805 won, up 29.86%. Following the previous day (29.91%), the price recorded the highest limit for two consecutive days.
Neofect announced on the 6th that there was a reason for not paying principal and interest on 3.3 billion earned from convertible bonds requested for early redemption. Neofect explained, “We intend to pay the unpaid 2.97 billion won by November 30th in consultation with bondholders.”
Since the free announcement, the stock price has fallen by almost 30% until the 11th. However, after the announcement on the 12th that the largest shareholder bought 47,896 shares (0.23% share), the price increased to the upper limit.
Individual investors are betting on their investment, saying there must be a reason why the largest shareholder bought the stake. The Korea Exchange demanded a ‘disclosure inquiry on significant market fluctuations’ from Neofect. The deadline for responses is 6 pm on the 14th.
By Park Eui-myeong, staff reporter uimyung@hankyung.com
