On the 20th, bio company Asta showed strong performance. It is interpreted that investors' attention was drawn as news spread that a large-scale investment would be attracted from Saudi Arabia.
As of 9:50 a.m. on the day, Asta's stock price rose to 6,890 won, hitting the daily price limit increase (30%) compared to the previous trading day. Asta recorded the upper price limit for two consecutive trading days following the 17th, with the stock price, which had been hovering in the low 4,000 won range, suddenly approaching 7,000 won.
Asta is a developer of industrial analysis inspection equipment utilizing MALDI-TOF mass spectrometry. In 2014, it became the first in Korea to develop 'MicroIDSys' and succeeded in commercializing products for microbial diagnostics. Due to the high entry barriers of related technology, it is considered virtually the only company in Korea.
Recently, through media reports, it was announced that Saudi Arabia's Saudi International Industrial Village Company (SIIVC) will make an investment of up to 500 million dollars in Asta. It was reported that due diligence was conducted earlier this month at Asta's factory and research and development (R&D) center located in Suwon-si, Gyeonggi Province.
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