[Market Focus] Jayjun Cosmetic Hits Upper Price Limit for Second Day on News of Acquisition by CHA Biotech

Jayjun Cosmetic is showing strong performance. This is believed to be influenced by the news that it will be acquired by CHA Biotech.

As of 9:30 a.m. on October 1, Jayjun Cosmetic was trading at 15,220 won, up 29.97% from the previous day. The company also hit the upper price limit the previous day.

On September 30, CHA Biotech announced that it would acquire Jayjun Cosmetic through one of its affiliates.

CHA Cares, an affiliate of CHA Biotech, is set to become the new largest shareholder by participating in Jayjun Cosmetic's paid-in capital increase. Other affiliates of CHA Biotech are also expected to join this acquisition.

It is known that they will pay around 30,000 won per share, including a management rights premium.