[Featured Stock] Paper Korea Accelerates Sale... Up 12% Intraday

[Asia Economy Reporter Minji Lee] News that the sale process of Paper Korea has gained momentum has led to an intraday rise of over 12%.

At 9:53 AM on the 4th, Paper Korea was trading at 1,650 KRW, up 11.49% from the previous trading day. The stock surged to as high as 1,840 KRW during the session. As of the end of last year, Paper Korea was the market leader in the packaging paper sector with a market share of approximately 62%.

According to a report on the same day, UAMCO, the largest shareholder of Paper Korea, and the sale advisory firm EY Hanyoung plan to conduct a preliminary bidding for potential buyers on the 5th. It was also reported that about 15 parties signed Non-Disclosure Agreements (NDA) and received the Investment Memorandum (IM) containing company information.

The transaction target includes Paper Korea stocks and bonds held by UAMCO Enterprise Rebound 7th PEF and U&I Loan, amounting to 25,348,983 shares and 195.4 billion KRW, respectively.