[Asia Economy Reporter Ji Yeon-jin] Serim B&G recorded a limit-up on the 16th as the growth potential of the eco-friendly plastic manufacturer attracted attention.
Serim B&G recorded 2,780 won, up 29.91% from the previous day, just 21 minutes after the opening of the KOSDAQ market that day.
The company was relisted following the merger by absorption of Serim B&G, a manufacturer of plastic packaging containers, by Hanwha Plus No.1 SPAC, a special purpose acquisition company (SPAC).
It manufactures and sells plastic containers for food packaging using vacuum forming technology and biodegradable films made from eco-friendly biodegradable materials.
The sharp rise that day appears to be due to news that Green Bio, a supplier of raw materials for eco-friendly plastics, will export large quantities of plastic made by foaming corn starch.
Green Bio recently secured a 10-year contract worth 3 trillion won in Malaysia, and sales are expected to increase exponentially starting this year.
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