[Market Focus] Halla IMS Hits Upper Limit After Being Named Preferred Bidder for Yeongdo Shipyard Acquisition

Halla IMS surged to the upper price limit following news that it had been selected as the preferred bidder for the acquisition of Yeongdo Shipyard.

As of 9:48 a.m. on October 23, Halla IMS was trading at 20,800 won on the Korea Exchange, up 4,770 won (29.76%) from the previous day.

The share price appears to have been driven up by reports that the Daeseon Shipbuilding creditors recently selected Halla IMS as the preferred bidder for the sale of Yeongdo Shipyard. Daeseon Shipbuilding entered a workout process after recording a deficit of 160 billion won in 2023 and has been pushing for the sale of Yeongdo Shipyard.