Korea No.16 Special Purpose Acquisition한국제16호스팩

Korea No.16 Special Purpose Acquisition is a newly listed blank-check company with no operating business and no reported revenue or earnings.

This is a special purpose acquisition company (SPAC) founded in February 2026 and listed on KOSDAQ at the end of June 2026. It holds about ₩2.2B in cash against ₩1.15B in borrowings and reports no revenue, operating income or net income in the data provided. The share price of ₩1,951 sits near its 52-week low of ₩1,935, well below the ₩5,000 high, and the company profile is not included in the data.

What stands out

• Cash of about ₩2.19B and borrowings of ₩1.15B give a liabilities-to-equity ratio of 8%, and the price-to-book ratio is 1.1.
• The fair value model gives a base value of ₩1,427 per share, a bear case of ₩841 and a bull case of ₩2,191, against the current price of ₩1,951.
• Foreign ownership fell from 10% to 7.7% over about 60 days, while retail and foreign investors were net sellers over the last 20 days and institutions were net buyers.
• Filings since listing include several 5%+ holding reports and insider shareholding reports, along with the half-year report for June 2026 filed on 14 August 2026.
• No news headlines are in the data, and the company profile and annual financials are missing.

What to watch

• Any announced target company or merger plan, which is not described in the data and is the main event for a SPAC.
• Future filings, including updated 5%+ holding reports and insider shareholding changes.
• Share price moves relative to the fair value range of ₩841 to ₩2,191, given the thin trading history since listing.