[Featured Stock] CJ Bioscience Rises on News of Parent Company's Bio Division Sale Upward...

CJ Bioscience hit the upper price limit following news of its parent company's bio business division sale.

As of 9:46 a.m. on the 19th, CJ Bioscience was trading on the KOSDAQ market at 11,370 won, up 2,620 won (29.94%) from the previous trading day.

The previous day, it was reported that CJ CheilJedang had selected Morgan Stanley as the lead manager for the sale of its bio business division and was in contact with potential acquiring companies.

Meritz Securities gave a positive evaluation of CJ CheilJedang's bio business division sale, citing reasons such as financial structure improvement and resolution of undervaluation.