SK Biopharma and other 265 million Korean shares removed from lock-up in Jan
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The Korea Securities Depository said Thursday that the mandatory lock-up period for a total 324.4 million shares will expire in January, up 0.4 percent on month.
The lock-up period is a window of time prohibiting large shareholders from selling their shares after special events, such as initial public offerings, to protect minor investors.
The shares to be released from the lock-up obligation next month include SK Biopharmaceuticals Co’s 58.73 million shares or two-thirds of its outstanding shares. The biotech made a mega IPO in July.
In the main Kospi market, a total of 92.1 million shares of seven firms, including SK Biopharmaceuticals, will be cleared for trading. The secondary Kosdaq market will have an inflow of 232 million shares of 52 firms next month.
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