[Asia Economy Reporter Song Hwajeong] Youngpoong Paper is soaring on news of a management rights sale.
As of 9:25 a.m. on the 5th, Youngpoong Paper was trading at 9,750 won, up 1,860 won (23.57%) from the previous day.
Yesterday, a media outlet reported that Q Capital, the largest shareholder of Youngpoong Paper, recently selected Samil PwC as the lead manager for the sale and has started the process of selling Youngpoong Paper. The sale target is the 50.55% management rights stake held by Q Capital.
On the same day, the Korea Exchange requested a disclosure inquiry from Youngpoong Paper regarding the report on the largest shareholder’s stake sale.
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