Nearly 230 million Korean shares exit lock-up, sparking overhang worries

Industry officials say that 229.48 million shares belonging to 38 Korean listed companies are set to exit mandatory lock-up periods in September, creating a potential overhang in the market. The Korea Securities Depository breaks the figure down to 119.49 million shares from five benchmark KOSPI firms and 109.99 million shares from 33 Kosdaq issuers. Internet-only bank Kbank will release the largest single block, 81.8 million shares - roughly one-fifth of its outstanding stock - and its price remains well below the 8,300-won IPO level.

On the Kosdaq, medical-device maker Osang Healthcare will free 8.49 million shares, representing 59 % of its float, with its price also far under the IPO price. Additional sizable unlocks include BitPlanet (11.77 million shares) and J2K Bio (3.3 million shares). Analysts caution that the actual selling pressure will hinge on the intentions of major shareholders versus financial investors.