LS Materials: A Sharp Increase in Short Selling Post Block Deal Sale

• On 14 June, KeiStone Partners sold 2.51 million shares (3.7% of outstanding shares) of LS Materials at the block deal sales price of 26,350 won per share.

• In the next several weeks/months, there will likely be increased concerns about additional selling of LS Materials by KeiStone Partners.

• Due to recent block deal sale, higher short selling volume, and concerns about additional selling by Keistone Partners, LS Materials shares could face further weakness in the next 6-12 months.

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