[Featured Stock] Binggrae Surges for Second Day Following Acquisition of Haitai Ice Cream

[Asia Economy Reporter Geum Bo-ryeong] Binggrae has been soaring for two consecutive days following news that it will acquire Haitai Confectionery & Foods' ice cream business.

At 9:09 AM on the 2nd, Binggrae was trading at 75,200 KRW, up 20.13% (12,600 KRW) from the previous trading day. The stock had hit the upper limit the day before.

On the 31st of last month, Binggrae announced that it decided to acquire 100% (1 million shares) of Haitai Ice Cream, a subsidiary of Haitai Confectionery & Foods, for 140 billion KRW.