[Featured Stock] Wooriro Hits Upper Limit Following Major Shareholder's Mandatory Holding Decision

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Wooriro, which resumed trading after more than a year due to an employee embezzlement incident, is trading at the upper limit during the session on the 9th. The largest shareholder's decision to hold shares for two years appears to have driven the stock price up.

On this day, Wooriro is trading at 2,245 won, up 29.77% (515 won) from the previous trading day, just 12 minutes after the opening of the KOSDAQ market.

The company announced last March that an internal employee had embezzled 2.75 billion won in business funds, which triggered a substantial review of listing eligibility and led to the suspension of stock trading. The Korea Exchange recently decided to maintain Wooriro's listing, and trading resumed on the 2nd.

Earlier, on the 4th, Wooriro announced that to secure management stability and sustainability, the largest shareholder, Infion, decided to hold 4.13 million shares for two years as a mandatory holding period.