L&F Perpetual CB Issuance Comes In at Half of Expected Amount... Share Price Movement Hinges on Next Steps
Predicted impact: Medium
Perpetual convertible bond raised about half the expected amount; less dilution but funding gap.
L&F엘앤에프
066970 · KOSPI · ₩066970 · 엘앤에프
₩89,000▲ ₩4,800 (5.70%)End-of-day · Oct 28, 2026 · End-of-day prices.
Price · 1Y −39.12%
- Market cap
- ₩3.6T
- Enterprise value
- ₩5.1T
- P/E
- —
- P/B
- 4.7×
- Dividend yield
- 0.0%
- ROE
- −41.6%
- Net margin
- −11.1%
Trailing 12 months from filed financial statements, as of H1 2026. Dividend yield: the 2025 dividend per share from the annual report ÷ today's price.
52-week range−60.4% from the high
₩63,000Today: ₩84,600 – ₩91,300₩225,000
Returns
- 1W−10.3%
- 1M−22.1%
- 3M+35.7%
- 6M−57.4%
- YTD−6.5%
- 1Y−39.1%
- Volume today
- 369,163
- 0.7× the 20-day average
- Traded today
- ₩33B
- Listed shares
- 40,687,353
- EPS (12 months)
- −₩7,932
- Earnings yield −8.9%
AI research · InitiationL&F: Operating profit returns on a trailing basis, but net losses and high leverage persistThe data shows a clear improvement in operating results, with a positive 8.4% trailing operating margin after three years of losses.Read the full report →
Upcoming dates
- Nov 2Earnings Expected · Preliminary results
- Nov 16Earnings Expected · 3Q results
- Jan 26Earnings Expected · Preliminary results
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Send a friend ₩100,000 of paper money in this stock. They get it when they join.
Why is it moving?
+5.7% on Oct 28, 2026.
L&F plans to issue perpetual convertible bonds, but the amount raised came in at half of what was expected. Market coverage says the share price will depend on what the company does next. The company also filed notice of an investor relations event.
AI summary of the news and filings linked. It can be wrong; check them.
- • Filing: Investor relations (IR) event
- • Foreign investors bought a net ₩131M that day
Possible reasons, not certainties. Not financial advice.
Signals
Quiet- BuzzQuietBuzz 35 of 100 (50 is a normal day for this stock).
- SentimentNegativeNews: Headline reports a smaller-than-expected bond raise, with the outlook left open. Community: 0 bullish, 0 bearish posts this week.
- MomentumWeak-18.4% over the last month; the price is below its 20-day average.
- News impactSome9 news items and filings in two weeks; 0 rated high impact, 1 medium.
Signals describe activity, not recommendations. Not financial advice.
Knock-on effects
Knock-on from news elsewhere
Samsung SDI · Samsung SDI Q3 operating profit ₩407.8B, turns to surplus
Contract with SDI, ~84% of revenue (FY26 report); moved with SDI on 17 of its 18 biggest days
News about other companies that has, in the past, moved this stock too. Evidence-based, not a prediction.
Leveraged ETF flows
Estimated leveraged-ETF rebalance on Oct 28: buy ₩1.1B at the close (2.1% of 20-day average trading value)
On its 34 biggest days of the last 60 (moves of 3%+), the estimated pressure averaged 1.2% of trading value and pointed the same way 21 of 34 times.
- 2× KODEX Leverage ₩556M
- -2× KODEX 200 Futures Inverse 2X ₩329M
- -1× KODEX Inverse ₩62M
- 2× TIGER 200IT Leverage ₩40M
- 2× TIGER Leverage ₩23M
Mostly via futures: index funds hedge with KOSPI 200 / KOSDAQ 150 futures, spread here over the index's largest members by market value.
Final after the close. An intraday "if the close were now" estimate needs real-time prices, which we don't have yet.
Estimate based on ETF size and daily moves; actual trades may differ.
ETFs holding this
All ETFs →Held by 32 funds.
- KODEX 2000.1%
- TIGER 2000.1%
- KODEX 200TR0.1%
- KODEX Leverage2×0.1%
- RISE 2000.1%
- ACE 2000.1%
- KIWOOM 200TR0.1%
- PLUS 2000.1%
Estimated from the funds' index or underlying stock.
Futures and options
All stock futures →Futures (2026-11): 88,300
Basis −0.79% · implied rate −19.2%
Open interest 102,591 contracts
Options open interest: 5,372 calls, 5,880 puts (put/call 1.09)
Futures and options can lose more than you put in. Figures describe the market; they are not predictions or recommendations. Paper trading only.
L&F stock overview
L&F (엘앤에프, KRX: 066970) is listed on KOSPI, in the Batteries sector. The company manufactures and sells cathode active materials for secondary batteries, operating as a single business segment that accounts for 100% of its revenue. Its shares closed at ₩89,000 on Oct 28, 2026, up 5.70% on the day, giving it a market value of ₩3.6T.
Key facts
- Market cap
- ₩3.6T
- Sector
- Batteries
- Latest price change
- +5.70%
- As of
- Oct 28, 2026
- Main business
- The company manufactures and sells cathode active materials for secondary batteries, operating as a single business segment that accounts for 100% of its revenue.
Quick answers about L&F
- What does L&F do?
- The company manufactures and sells cathode active materials for secondary batteries, operating as a single business segment that accounts for 100% of its revenue. Its products are supplied to battery manufacturers for applications including EVs, ESS, IT devices and robots. The company develops high-nickel NCMA and LFP cathode materials and operates production facilities in Daegu, Korea.
- What is the market cap of L&F?
- The market capitalisation of L&F was ₩3.6T at the close on Oct 28, 2026.
- Who are the largest shareholders of L&F?
- According to the latest official filings, the largest reported holders are Saeronix (22.08%, as of Oct 2, 2026); National Pension Service (8.58%, as of Oct 2, 2026); Heo Je-hong (2.02%, as of Jun 16, 2025).
- When is the next earnings report from L&F?
- Korean companies rarely announce results dates in advance. Based on when L&F filed the same report in past years, its next 3q results is expected between Nov 13, 2026 and Nov 14, 2026.
- Does the National Pension Service own L&F?
- Yes. The National Pension Service held 8.58% of L&F shares as of Oct 2, 2026.
Company profile
The company manufactures and sells cathode active materials for secondary batteries, operating as a single business segment that accounts for 100% of its revenue. Its products are supplied to battery manufacturers for applications including EVs, ESS, IT devices and robots. The company develops high-nickel NCMA and LFP cathode materials and operates production facilities in Daegu, Korea.
Written by AI from the company's latest annual report.
- Korean name
- 엘앤에프
- Sector
- Batteries
- Themes
- EV batteriesBattery materials (cathode, anode, lithium)Energy storage (ESS)Lithium & rare metalsEV parts
- CEO
- 허제홍
- Founded
- Jul 2000
- Listed
- Jan 2024
- Listed shares
- 40,687,353
- Fiscal year ends
- Month 12
- Website
- www.landf.co.kr/
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Recent news
L&F wraps up 'DIFA 2026'; showcases NCM and LFP technology and growth vision
Predicted impact: Low
L&F wraps up 'DIFA 2026' in Daegu, spotlighting LFP cathode material now in mass production
Predicted impact: Low
Trade show showcase of already-announced LFP cathode mass production.
Recent filings
See all- Investor relations (IR) eventOct 27, 2026
- Response to rumour or news reportOct 14, 2026
- Response to rumour or news reportOct 7, 2026
- Insider shareholding reportOct 6, 2026
- 5%+ holding reportOct 2, 2026
Titles in Korean until English translations are added.
Also known as: L&F / 엘앤에프 / 066970 / KRX:066970
Source: KRX statistical information