[Featured Stock] Alline's 'Activist Effect' Coway Hits 52-Week High

Coway is on the rise on the 17th amid expectations following activist fund Align Partners' demands for improvements in shareholder return policies.

As of 10:02 AM today, Coway is trading on the KOSPI market at 80,300 KRW, up 3,200 KRW (4.15%) from the previous close.

The stock opened at 76,400 KRW and surged to 81,500 KRW during the session, setting a new high.

Align Partners sent an open shareholder letter yesterday demanding improvements in shareholder return policies and measures to enhance board independence.

Specifically, Align plans to conduct a public campaign targeting Coway's board to increase shareholder value. Align holds 2.8% (2,098,136 shares) of Coway's total issued shares through funds it manages and advises.