[Special Stock] F&F Hits Upper Limit on First Day of Split Listing

[Asia Economy Reporter Ji Yeon-jin] On the first day of re-listing after transitioning to a holding company structure, F&F's stock price rose to the price limit (30%) on the 21st.

On that day, F&F recorded 468,000 won, up 108,000 won (30.00%) from the opening price (360,000 won) during the morning session. Afterwards, the increase narrowed to 25.83%, trading at 453,000 won.

F&F decided to transition to a holding company structure at the end of last year and completed the split re-listing on this day. F&F Holdings serves as the surviving company and holding company, while F&F was split off as a newly established company responsible for the fashion business.

Earlier, KB Securities positively evaluated F&F's consecutive second-quarter earnings surprises, driven by the 'MLB' and 'Discovery' brands, despite the COVID-19 pandemic, and presented a target market capitalization of 4.3 trillion won. The target stock price was set at 560,000 won.

Daishin Securities also presented a target stock price of 455,000 won in a report on the same day. Researcher Yoo Jeong-hyun of Daishin Securities said, "As consumption in the domestic market is rapidly recovering, sales of Discovery and MLB are significantly recovering," adding, "Considering the strong growth of these brands last year, this high growth trend is believed to stem from brand competitiveness beyond simple consumption recovery." He explained, "This means there is great growth potential regardless of the domestic clothing consumption market conditions."