[Featured Stock] HMM Rises 8% on News of San-eun Considering Stake Sale

[Asia Economy Reporter Minji Lee] HMM is recording an intraday rise of over 8%.

At 9:27 a.m. on the 23rd, container shipping company HMM was trading at 22,250 KRW, up 8.27% from the previous trading day. The company's stock price surged to as high as 23,350 KRW during the session.

This follows news that the Korea Development Bank has begun market research targeting potential buyers to sell its shares.

HMM's major shareholders include the Korea Development Bank (20.69%), Korea Ocean Business Corporation (19.96%), Korea Credit Guarantee Fund (5.02%), and others (48.81%).

The Korea Development Bank has made preliminary contacts with LX Pantos for management rights sale, and companies such as POSCO, CJ Group, SM Shipping, and Hyundai Glovis are also being considered.