[Featured Stock] Dongwon Industries, Dongwon F&B Soars on 100% Subsidiary Inclusion... New High

Dongwon Industries is showing strong performance following the news of fully acquiring Dongwon F&B as a 100% subsidiary. It recorded a 52-week high during trading.

As of 9:18 AM on the 15th, Dongwon Industries is trading at 38,900 KRW, up 2,900 KRW (8.06%) from the previous day on the Korea Exchange. During the session, it rose to 39,200 KRW, setting a new 52-week high.

To target the global food market, Dongwon Group's holding company Dongwon Industries will fully acquire its affiliate Dongwon F&B as a 100% subsidiary, and Dongwon F&B will be delisted. Both Dongwon Industries and Dongwon F&B held board meetings the previous day and approved a comprehensive stock swap agreement. The comprehensive stock swap will be conducted by Dongwon Industries issuing new common shares to Dongwon F&B shareholders. The exchange ratio is 0.9150232 shares of Dongwon F&B per 1 share of Dongwon Industries. Once this agreement is finalized, Dongwon F&B will become a non-listed company, with Dongwon Industries owning 100% of its shares.