Long Corridor Asset Management Cuts Stake in ABC (8783) to 27.28% | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that Long Corridor Asset Management Limited has reduced its stake in ABC (8783) to 27.28%. This divestment comes from a Hong Kong-based activist/event-driven fund. ABC is a diversified listed company engaged in mobile game development and operation, Web3, finance, and cybersecurity, currently pursuing a business transformation centered on blockchain technology. The 27.28% stake represents a major shareholder position accounting for a significant portion of the company's market capitalization.

This sale reflects a step-down from Long Corridor's previously disclosed holding level. The estimated sale proceeds total approximately ¥150 million, with ABC's share price standing at ¥65 at the time of disclosure. Despite the reduction, the fund maintains a controlling shareholder position above 27%, suggesting a gradual stake adjustment rather than a complete exit.

*Speculation: The fund may be managing downside exposure to the company in its business transformation phase while strategically maintaining its substantial ownership position.