[Hot Stock] Classys Hits New High on 'Samsung Electronics Acquisition Rumors'

Beauty medical device company Classys surged over 6% on the 26th amid rumors of acquisition by Samsung Electronics.

As of 9:26 a.m. on the day, Classys shares were trading at 61,800 KRW, up 6.55% from the previous trading day. At one point, the stock price jumped to 71,500 KRW, setting a new 52-week high.

The buying frenzy is interpreted as a reaction to a media report stating that Samsung Electronics is pursuing the acquisition of Classys. According to the report, Samsung Electronics formed a task force (TF) at the end of last year to review the acquisition. Bain Capital, the largest shareholder of Classys, selected an underwriter in the second half of last year and has been pushing for the sale of management rights. However, Samsung Electronics has denied the acquisition rumors.

Classys is a manufacturer of dermatological medical devices for medical institutions, including the high-intensity focused ultrasound surgical device "Shurink" and the device "Voluumer," which uses radiofrequency current to coagulate skin tissue.