[Featured Stock] CJ Hits 52-Week High on Possibility of Olive Young IPO Relaunch

As CJ's unlisted subsidiary Olive Young is highlighted for potentially resuming its initial public offering (IPO), CJ's stock price on the Korea Exchange reached a 52-week high on the 23rd.

As of 10 a.m. that day, CJ was trading at 100,900 won, up 1.31% from the previous trading day. The stock price hit a 52-week high of 102,000 won, rising 2.41% from the previous day shortly after the market opened.

Hwang Seong-jin, a researcher at Heungkuk Securities, stated in a report that day, "Olive Young's net profit in the fourth quarter of last year was 55.5 billion won, showing explosive growth with an increase of 111.8% compared to the same period last year," and added, "The reopening trend (resumption of economic activities) and the withdrawal of competitors are also creating a favorable business environment."

He noted, "As Olive Young's profit growth continues strongly, the possibility of resuming the IPO, which was postponed last year, is increasing," and "The chances of success are also rising if the IPO is resumed."