[Special Stock] Court Allows Hanjin Kal New Share Issuance... Asiana Hanggong Soars Upward↑
[Asia Economy Reporter Geum Bo-ryeong] Related stocks, including Asiana Airlines, surged as the court approved Hanjin KAL's paid-in capital increase for the acquisition of Asiana Airlines by Korean Air.
As of 2:48 PM on the 1st, Asiana Airlines' stock price recorded 6,030 KRW, up 17.09% (880 KRW) compared to the previous trading day. At the same time, AsianaIDT rose 23.13% (6,800 KRW) to 36,200 KRW from the previous day.
The Seoul Central District Court Civil Division 50 (Chief Judge Lee Seung-ryeon) dismissed the injunction request filed by Grace Holdings, an investment purpose company under KCGI, against Hanjin KAL to prohibit the issuance of new shares.
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Accordingly, Hanjin KAL's 500 billion KRW third-party allotment paid-in capital increase for the acquisition of Asiana Airlines is expected to proceed as planned.
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