[Featured Stock] Isu Chemical Plummets 8% on News of Demerger

[Asia Economy Reporter Junho Hwang] Isu Chemical is experiencing a sharp decline in early trading following news of a spin-off.

As of 10:07 AM on the 30th, Isu Chemical is trading at 23,000 KRW, down 8.00% from the previous trading day.

On the previous day, Isu Chemical announced that it will spin off its petrochemical and fine chemical divisions. The petrochemical division will remain as the existing company. The fine chemical and all-solid-state battery material divisions will be established as a new company. The spin-off will be finalized on May 1st, following the regular shareholders' meeting in March next year. The new spun-off company is scheduled to be listed on May 31st.