Chapter 774 - Marketable Securities Transfer (2) – Part 1
Chapter 774: Marketable Securities Transfer (2) – Part 1
It was Thursday. Gun-Ho headed to Jiksan Town to work in GH Mobile.
“Chan-Ho, the weather is nice these days, huh? It’s no longer hot.”
“Right, sir. Even the air feels fresher. I do like driving in this cool weather.”
When Gun-Ho arrived at GH Mobile, he initially thought of stopping by the second factory first, and then he decided to visit the storage building where the general affairs director made a lease contract to use its parking lot. Tons of cars were parked in the large open space, and there was a sign. Gun-Ho went closer to the sign to read it.
[Private Parking. No Public Access. – GH Mobile Corp.]
Gun-Ho smiled as he read the sign. The storage building looked hideous. Its front door was half broken, and some construction materials were piled up inside. The door was locked to prohibit public access.
“It looks like we won’t be able to use that building even for storage.”
Gun-Ho looked at the church building next to it. It was a newly constructed modern building. It looked majestic and beautiful.
“It’s a shame that that beautiful building came out to the auction market.”
After stopping by the second factory, Gun-Ho came to the first factory, and he went to the production site 1. Jong-Suk Park was talking with someone there, who looked like a person from outside. When Director Park saw Gun-Ho and tried to walk toward him, Gun-Ho gestured that he didn’t have to come. Gun-Ho then went to the production site 2 where assembly works were in progress. The production manager for the production site 2 came to Gun-Ho to greet him.
Gun-Ho asked, “Who is the person talking with Director Park?”
“He is from the city’s environment department, sir. He is here to inspect our factory’s noise control and sewer system.”
“Hmm, I see.”
Gun-Ho asked the production manager as he walked around the production site with him, “As the weather is cooling down, are we receiving more production orders from A Electronics for their door assembly work?”
“Yes, sir. Their production order has increased a lot. We are working with our vendor companies to fulfill their production order and outsourcing the work as well. We only handle assembly work in this location, and our factory manufactures the essential parts only.”
“And the essential parts are being manufactured at the production site 1, and sent to this production site 2 for the assembly work?”
“Speaking of the maintenance, did we receive the twin screws from West Moulding Corp. in the U.S., that you placed an order the other day?”
“We ordered ten of them, and I’m expecting to receive them soon.”
“Hmm, I see.”
“You have built eight new machines for Dyeon Korea so far, haven’t you?”
“Right, we sent them 8 brand new machines to Dyeon Korea.”
“Each machine comes with all the necessary accessories like a big package, right? And, it is priced for 150 million won. Since we sent 8 of them, the total price for 8 is 1.2 billion won. I wonder if GH Mobile received 1.2 billion won from Dyeon Korea.”
“I don’t track bills and payment stuff. You will have to check with the accounting department.”
“And, Jong-Sik, I’m telling you this since no one is around. I want you to keep what I’m going to tell you between you and me.”
“What is it?”
“You said that you purchased 16,000 shares when we had the Employee Stock Ownership Program, right?”
“That’s right. It was 10,000 won per share, and I spent 160 million won for 16,000 shares. When my mom found out that I took out a loan using my condo as collateral to buy company shares, she was mad. She said that I must be out of my mind.”
“Haha, she said that?”
“She said there are tons of people who ended up losing everything they had because of their investment in the stock market. And, she said that I should sell the shares right away.”
“Okay, now, listen to me very carefully. Dyeon Korea is going public very soon. Once that happens, Dyeon Korea’s stock will be available for anyone to trade. I want you to sell all of your Dyeon Korea’s shares on the first day when it goes public.”
“You want me to sell all of them?”
“On the day when it goes public, sell them all at 9 am. The stock market opens at 9.”
“I don’t know how to do it.”
“Just ask the stock brokerage company’s staff to sell your shares on behalf of you. You have to make the request in advance.”
“I have to make the request to the stock brokerage company to sell my shares, huh?”
“When you have time, go to a stock brokerage company nearby and open a stock account with them. You can do that by visiting a bank as well. And then, go to Dyeon Korea’s Employee Stock Ownership Association and ask them to transfer your shares to your stock account. It’s called marketable securities transfer.”
“Marketable securities transfer?”
“You will receive an official letter from Dyeon Korea’s Employee Stock Ownership Association about it soon. It will say that you will have to make a request to them for the marketable securities transfer if you want. Once you receive it, you should do it.”
“Where can I find Dyeon Korea’s Employee Stock Ownership Association?”
“It must be within the accounting department. When you go there, there will be someone who is in charge of it.”
“I see.”
“Once you make your request for the transfer to the person in Dyeon Korea’s Employee Stock Ownership Association, they will move all of your shares that you purchased to your new stock account. You are then ready to trade your shares in the stock market.”
“Does it mean that I will have all of my 16,000 shares in my stock account?”
“Actually, you will see 32,000 shares in your account. You bought them when it was 10,000 won per share. It will be split into two, so one share would cost 5,000 won instead of 10,000 won.”
“Hmm, really? How much will it be per share when everything is set for me to sell?”
“I don’t know its price yet. The price will be determined by its demand and supply as usual. It could be 10,000 won per share or 4,000 won per share. If the price of the share is 10,000 won, your 32,000 shares will be worth 320 million won.”
“Whoa! 320 million won?”
Director Jong-Suk Park’s eyes widened in surprise and excitement when he heard of the amount—320 million won.