[Featured Stock] Hanjin Kal, Soaring Amid Ongoing Management Dispute as Hanjin Kal Circulating Shares Near 'Sold Out'

[Asia Economy Reporter Hyungsoo Park] Hanjin KAL is soaring. The news that the private equity fund KCGI has increased its stake in Hanjin KAL appears to have influenced the stock price.

At 10:26 a.m. on the 1st, Hanjin KAL's stock price was trading at 83,600 won, up 12.52% from the previous day.

KCGI announced on the same day that Grace Holdings, Helena Holdings, and Tacoma & Co Holdings each additionally purchased 134,807 shares, 205,273 shares, and 25,290 shares of Hanjin KAL stock, respectively. The stake held by KCGI and its special affiliates in Hanjin KAL increased from 42.13% to 42.74%.

Chairman Cho Won-tae's side has also secured a friendly stake of over 40%, and the number of freely traded shares of Hanjin KAL seems to be gradually decreasing.

Choi Nam-gon, a researcher at Yuanta Securities, analyzed, "Considering the speed at which the three-party alliance is securing shares, there is a high possibility of a rematch at the general shareholders' meeting after the regular shareholders' meeting results," adding, "As long as the competition to secure voting rights continues, the volatility of Hanjin KAL's stock price will remain high."

However, he advised, "Investment in Hanjin KAL should only be approached on the premise of a 'voting rights battle.'"