[Special Stock] Ssangyong Motor Acquisition Pursuit by Ssangbangwool Group, Early Trading Hits Upper Limit Amid Continued Optimism

[Asia Economy Reporter Lee Myunghwan] Ssangbangwool affiliates surged to the upper price limit early in trading on the 4th amid expectations of acquiring Ssangyong Motor.

As of 10 a.m. that day, Ssangbangwool was trading at 1,310 won, up 29.70% (300 won) from the previous trading day, approaching the 30% price limit. At the same time, affiliate Mirae Industry was also trading at 24,350 won, up 29.87% (5,600 won) from the previous day, hitting the upper price limit. Kwanglim was trading at 4,560 won, up 29.91% (1,050 won) from the previous day, also nearing the price limit.

Another affiliate, IOK, was trading at 2,000 won, up 24.61% (395 won) from the previous day. Vivian was trading at 4,200 won, up 18.31% (650 won) from the previous day.

This is interpreted as the Ssangbangwool Group's expectation of acquiring Ssangyong Motor continuing for two consecutive trading days. On the 1st, Ssangbangwool Group announced that it was considering acquiring Ssangyong Motor to strengthen business competitiveness and enhance corporate value.

On the 1st, when Ssangbangwool announced its intention to pursue the acquisition of Ssangyong Motor, its stock closed at 1,010 won, up to the price limit of 29.49%.