[Asia Economy Reporter Ji Yeon-jin] Cosmetics manufacturer CTK Cosmetics surged to the daily price limit on the 25th, hitting a 52-week high.
As of 11:15 AM that day, CTK Cosmetics was trading at 11,800 KRW, up 20.41% from the previous day. Earlier in the session, the stock reached a 52-week high of 12,700 KRW.
The company recently announced a stock dividend, allocating one new share for every one common share held, with the ex-rights date occurring on this day, according to a disclosure made the previous day. Market analysts attribute the sharp rise to the effect of the ex-rights date.
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