[Featured Stock] Hyundai BNG Steel Rises on News of Acquiring Automotive Materials Division
[Asia Economy Reporter Park Jihwan] Hyundai BNG Steel, an affiliate of Hyundai Motor Group, showed strong performance following news of its acquisition of LG Hausys' automotive materials and industrial film division.
According to the Korea Exchange, as of 10:46 AM on the 26th, Hyundai BNG Steel was trading at 23,800 KRW, up 2,450 KRW (11.48%) from the previous trading day.
The rise in Hyundai BNG Steel's stock price is interpreted as a reaction to the news that it was selected as the preferred negotiator for the acquisition of LG Hausys' automotive materials and industrial film division.
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On the 26th, LG Hausys announced that it had signed a memorandum of understanding (MOU) to sell its automotive materials and industrial film division to Hyundai BNG Steel.
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