BXBX NOVEL Chapter 834 - Acquisition of Miura Machines (1) – Part 1
Chapter 834: Acquisition of Miura Machines (1) – Part 1
Gun-Ho couldn’t concentrate on his work on Wednesday and Thursday, so he decided to spend those days without working. He went to see a movie, go swimming in a swimming pool, and also went to an indoor golf practice facility as well, all by himself. The boring Wednesday and Thursday passed by, and finally, it was Friday.
“Dyeon Korea’s stock trade will be resumed today. It’s the first trading day after the stock was split. The stock manipulators will not sell their stock at only 8,000 won per share. They haven’t been investing in the stock market just to make that much money.”
As expected, Dyeon Korea’s stock price hit the upper limit that day.
“I knew it.”
It occurred to Gun-Ho that he had to carefully monitor the changes in Dyeon Korea’s stock price, especially he had to see when the upper limit price would turn downward. That was because once it happened, the stock manipulators would start throwing their stock for sale, and that was the moment when Gun-Ho would have to sell his stock as well. Gun-Ho had previously purchased 200,000 shares, and that was before the stock split. He now had five times of that number of stocks, which was 1 million. It was critical for him to find the right timing to sell his 1 million shares that were in his possession.
“Fortunately, there are still 2 million shares to be purchased at the upper limit price.”
Gun-Ho was hesitating to realize profits. Dyeon Korea’s stock price was 10,400 won that day.
‘The stock price was 26,000 won before I leaked the information about the stock split, and once the information was spread out, the price jumped to 40,000 won. With the stock split, the number of shares increased by 5 times, and the price per share was reduced by 5 times to 8,000 won from 40,000 won. That 8,000 won hit the upper limit today and became 10,400 won. I have 200,000 shares; well, it’s now 1 million shares after the stock split, and their total value is worth 10.4 billion won if I sell them now. It’s not bad at all, isn’t it?
However, there are still 2 million stocks on purchase requests that are piled up in the stock market. I should watch and wait until those requests are fulfilled first.’
Gun-Ho even skipped his lunch that day in order to keep an eye on the stock market. He wanted to wait until 3:30 pm to eat something because that was the time when the stock market would be closed for the day. Gun-Ho felt butterflies in his stomach.
“No one would believe that the president of a public company skips a meal bearing hunger. But, I don’t have time for lunch today.”
Dyeon Korea was able to keep the same upper limit price that day— Friday.
The media talked about Dyeon Korea’s stock favorably.
[Dyeon Korea hit the upper limit today. Dyeon Korea which is a chemical company had a dormancy period for the past three days because of its recent stock split, and the trade for the stock resumed today. As soon as the trade resumed, Dyeon Korea’s stock price skyrocketed and attained 10,400 won which is an increase of 29.93% of its previous price.]
[The stock market has shown a tendency of hitting the upper limit and maintaining the price for a while when a company splits their stocks. Many companies such as Seoul Food, Nanos Co., LEED, Arion Technology, Kanglim Co. Ltd., Chemknock Inc., Crown, hit the upper limit on the first day after coming back to the stock market from its dormancy stage because of their stock split. Stock split is certainly accepted as good news on the stock market.]
After the stock market for the day closed around 4 pm, Gun-Ho finally walked out of his office to eat something. He went to a small restaurant and had a bowl of lomein with Gimbab (cooked rice and other ingredients rolled in dried seaweed). They tasted heavenly to him.
It was Monday.
Gun-Ho felt determined that morning.
‘I’m going to a battlefield today just like a bullfighter does. Either me or my opponent will bleed out today.’
Gun-Ho was sitting on the back of his Bentley with his eyes closed. His face was hardened. Chan-Ho Eom, who noticed that Gun-Ho was different that day, asked him, “Sir, are you feeling alright?”
“I’m fine.”
“You look different today.”
“I’m going to a battlefield today.”
“Huh? Are you going to get into a fight with someone? I can call Tae-Young bro to come and help you.”
“No, no. It’s not about a physical fight, but I’m fighting with people using a computer.”
“Sir, are you talking about an online game?”
“No, not that. Chan-Ho, just drive, okay?”
As soon as he arrived at his office in GH Building, Sinsa Town, Gun-Ho turned on his computer, and then he called for Secretary Yeon-Soo Oh.
“Don’t let anyone come into my office from now until noon. Also, if someone calls to talk to me, just tell them that I’m not in the office. I didn’t sleep last night, and I want to take a nap until then.”
“Understood, sir.”
Gun-Ho sat at his desk in front of the computer. He looked at the computer monitor with glittering eyes.
Dyeon Korea’s stock price increased by 12% compared to the price yesterday. It was maintaining the price without going up some more.
“It seems that it needs my help.”
Gun-Ho started selling his stock little by little. Once Gun-Ho sold about 100,000 shares, the stock price dropped by 10%. Gun-Ho took a break then. After a while when the stock price started going up again, Gun-Ho sold more of his stock. He sold 1,000 shares, and then sold 2,000 shares, and then 10,000 shares.
“It’s 10 o’clock already.”
When Gun-Ho sold 500,000 shares, it was a bit after 10 am. By then, it seemed that the stock manipulators determined that the stock price wouldn’t go up any higher. They then finally began to sell their stock. As Gun-Ho realized the stock manipulators started selling their stock, Gun-Ho joined them in selling his stock as well.
“I see a blue light now.”
Gun-Ho threw the rest of his shares of 500,000 to the stock market, and the blue light appeared.
Gun-Ho eventually sold all of his 1 million shares that day.
“Let me see what the average purchasing price was per share.”
It was 11,000 won. Gun-Ho sold his shares at the average price of 11,000 won. He had 11 billion won in the stock account in cash available to take out.
‘I had 10.6 billion won in Seung-Hee sister’s stock account. I spent 5.2 billion won from it when I bought 200,000 shares at 26,000 won before the stock split occurred. So, if I subtract 5.2 billion won from 10.6 billion won, I had 5.4 billion won left in her account. I then sent 300 million won out of 5.4 billion won to Jong-Suk, so he could use it in acquiring Miura Machines. So, I had 5.1 billion won left as of yesterday.
Now, I have an additional 11 billion won from the sales of the stock today, so if I add that amount to 5.1 billion won, I currently have 16.1 billion won. I will withdraw 15 billion won of them in cash from this account and move it to my stock account with the stock brokerage company in Gangnam.’
The amount of money in Gun-Ho’s personal stock account with the stock brokerage company in Gangnam would be 180 billion won once this 15 billion won was deposited to it. Gun-Ho was supposed to have 185 billion won in his own stock account if he hadn’t used 5 billion won in investing in the movie production of Menghuan Yinghua. Because of the 5 billion won that he spent for the movie production earlier, he had 180 billion won in his stock account.
‘The effect of stock splitting on the stock price would expire soon, and the stock price will decrease for a while. The initial public offering price was 26,200 won, and as the stocks were split, the price per share would drop to 5,240 won.’