[Featured Stocks] Ssangbangwool and Gwangrim Rise on Solo Bid for Eastar

[Asia Economy Reporter Hwang Junho] The consortium including Ssangbangwool and Kwanglim is showing strength following news that it is the sole participant in the public bidding for Eastar Jet.

As of 9:18 AM on the 15th, Ssangbangwool is trading at 1,320 KRW, up 23.36% from the previous close. Kwanglim is up 14.17% at 4,795 KRW, and Mirae Industry is trading at 21,200 KRW, up 12.17%.

In the preliminary bidding on the 31st of last month, three parties participated: the Kwanglim consortium, Pan Ocean of the Harim Group, and a private equity fund (PEF) management firm. Subsequently, in the main bidding on the 14th, only the Kwanglim consortium submitted a bid.

If a preferred negotiation partner is selected within this month, a detailed due diligence of Eastar Jet will be conducted, followed by the submission of a concrete rehabilitation plan by the 20th of next month. The acquisition process will conclude once the acquisition funds are injected.

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