[Special Stock] Yuanta Securities Surges Over 17% Intraday on Sale Promotion News

[Asia Economy Reporter Minji Lee] Taiwanese securities firm Yuanta Securities is experiencing a sharp rise in early trading following news that it is pursuing a sale.

At 9:10 a.m. on the 27th, Yuanta Securities was trading at 2,880 KRW, up 17% from the previous trading day. The company's stock price even surged to 2,960 KRW during the session. The preferred shares, Yuanta Securities Preferred, also continued their upward trend, rising more than 21%.

According to a media report on the same day, Yuanta Group is said to have signed a mandate (deal advisory) contract to sell Yuanta Securities to Woori Financial Group. The sale price is reported to be around 1.2 trillion KRW.

Previously, Yuanta Group entered the domestic market by acquiring the former Dongyang Securities in 2014. At the time of acquisition, including a paid-in capital increase of 150 billion KRW, the total investment amount including equity investment reached 420 billion KRW. Currently, Yuanta Group holds approximately a 58% stake in Yuanta Securities.