[Featured Stock] Daesung Eltec, 'Apple Car Beneficiary', Hits Upper Limit Amid M&A Issues

[Asia Economy Reporter Ji Yeon-jin] Daesung Eltec, an automotive audio supplier, surged to the upper price limit on the 1st.

Daesung Eltec recorded 1,570 won at 10:07 a.m., up 29.75% compared to the previous session. Although it showed slight fluctuations afterward, it continued to hit the upper price limit as of 11 a.m. The company also closed at the upper price limit on the 27th of last month.

Daesung Eltec is a vehicle infotainment specialist company mentioned as a beneficiary of the Apple Car, with private equity firm Stick Investment holding about 32% of its shares.

Daesung Eltec suffered a hit to its performance due to the contraction of the domestic finished car industry but has recently emerged as a beneficiary in the autonomous electric vehicle industry. In the investment banking (IB) sector, it is known that Stick Investment is moving to sell all of its approximately 32% stake. Previously, Stick Investment recovered part of its investment by selling about 8.02% of Daesung Eltec shares through a block deal last month.

This content was produced with the assistance of AI translation services.