[Featured Stock] LX Hausys Rises on News of Participation in Hanssem Acquisition Battle

[Asia Economy Reporter Song Hwajeong] LX Hausys is showing strength following news of its participation in the Hanssem acquisition battle.

As of 9:40 AM on the 7th, LX Hausys was trading at 92,700 KRW, up 3,500 KRW (3.92%) from the previous day.

The news of participating in the Hanssem acquisition is interpreted as driving the stock price up. The day before, LX Hausys announced that IMM Private Equity, a private equity fund management company, plans to invest 300 billion KRW in a management participation-type private equity fund (PEF) to be established for the acquisition of Hanssem.

Earlier, in July, Hanssem signed a memorandum of understanding with IMM PE for the transfer of shares and management rights held by Honorary Chairman Cho Chang-geol, the largest shareholder, and seven related parties.