Samsung Special Purpose Acquisition 11삼성스팩11호

Samsung Special Purpose Acquisition 11 is a blank-cheque shell with no operating business and no merger target yet named.

The company is a SPAC listed on KOSDAQ in September 2025 with no revenue and no operating business, so its value rests on a future merger rather than current earnings. At ₩2,000 per share, the market capitalisation is about ₩11.5B, and the 52-week range is ₩1,906 to ₩2,465. Its filings show routine governance items, and the latest one concerns changes to the deposit and trust agreement.

What stands out

• Trailing operating income is negative at about -₩23.5M, while net income is positive at about ₩26.0M, which is likely driven by non-operating items; the data does not explain the gap.
• Revenue and margins are not reported because the company has no sales.
• Cash is about ₩302M against borrowings of about ₩1.76T in the data, a mismatch the data does not explain; liabilities are 17% of equity.
• The price has moved little: +1.5% over one month, +0.7% over three months and +0.1% over one year.
• Trading is light: foreign ownership is 0.4% and short balance is 0%; 20-day flows show institutions net buying while retail and foreign investors net sold.

What to watch

• Whether the company names a merger target, since the profile says none has been selected yet.
• The next half-year or quarterly filings, and any further changes to the deposit and trust agreement.
• Shareholder ownership reports and the company's ability to complete a merger within its stated timeframe, which the data does not give.