Woongjin is showing strong performance following news that it has been selected as the preferred bidder for the acquisition of a secondary battery equipment company.
As of 10:27 AM on the 16th, Woongjin was trading at 1,894 KRW, up 24.44% from the previous close. Woongjin also hit the upper price limit (price ceiling) the day before.
The day before, the Woongjin Group was chosen as the preferred bidder for the acquisition of EQCell, a company that develops and manufactures process equipment in the secondary battery and semiconductor fields. It is reported that Woongjin Group is working with financial investors (FI) to acquire an 86.65% stake in EQCell.
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