[Featured Stock] UNID Expected to Resolve Undervaluation Due to Demerger...2.3%↑

[Asia Economy Reporter Minji Lee] While the KOSPI is showing a sluggish trend with a decline of over 1%, Unid is showing an upward trend during trading hours.

On the 2nd, Unid was traded at 131,000 KRW at 11:08 AM, up 2.75% compared to the previous trading day. On the same day, Unid surged to 131,500 KRW during trading hours.

It is analyzed that the positive reflection is due to the expectation that the stock price undervaluation will be resolved through a spin-off. On the 31st of last month, Unid announced through a public disclosure that it decided to spin off into the surviving company 'Unid' and the newly established company 'Unid VT Plus (tentative name)' and to relist. Unid will operate the potassium carbonate and potassium deoxidation businesses, while Unid VT Plus will engage in MDF and board businesses.

Researcher Wooje Jeon of Hanwha Investment & Securities said, “The spin-off is expected to be divided based on capital at a ratio of 76 to 24, and the market capitalization of the relisted Unid is expected to recover quickly. The 10-year average sales ratio of the chemical and board business divisions is 79 to 21, and the operating profit ratio is 96 to 4.”