[Featured Stock] Kwanglim Soars to Upper Limit on News of Pursuing Ssangyong Motor Acquisition

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the morning of the 1st, special-purpose vehicle manufacturer Gwangrim hit the upper price limit following news that it is pursuing the acquisition of Ssangyong Motor.

As of 9:16 a.m. that day, Gwangrim was trading at 3,510 won, up 30% from the previous trading day.

Gwangrim is a company that manufactures special-purpose vehicles equipped with specialized equipment such as fire trucks, refrigerated vans, and pump cars.

The day before, Ssangbangwool Group announced that it is actively considering the acquisition of Ssangyong Motor centered around Gwangrim.

Meanwhile, on the same day, the Korea Exchange KOSDAQ Market Headquarters requested Gwangrim to disclose whether the report on the acquisition of Ssangyong Motor is true and to provide specific details.

The deadline for response is by 6 p.m. that day.