[Special Stock] Aniplus Declines Despite News of Competitor Acquisition

Aniplus is showing a downward trend despite the news of its competitor Animax's acquisition.

As of 9:36 AM on the 21st, Aniplus was trading at 4,115 KRW, down 3.29% from the previous trading day. Shortly after the market opened, it rose as much as 8.81% to 4,630 KRW but then turned downward.

The day before, Aniplus signed a contract to acquire 100% of Animax Korea's shares for 46 billion KRW. Animax is the industry's second-largest competitor holding the rights to the popular Japanese animation "Demon Slayer."

SK Securities raised Aniplus's target price from 8,000 KRW to 8,300 KRW, expecting positive synergy from the competitor's acquisition.