[Featured Stock] EV Advanced Materials Rises on Expectations of Cash Inflow Equivalent to One-Third of Market Cap
[Asia Economy Reporter Jang Hyowon] EV Advanced Materials is showing strong performance amid expectations of securing 31.3 billion KRW by disposing of its shares in Y2 Solution.
As of 1:40 PM on the 30th, EV Advanced Materials is trading at 2,140 KRW, up 15.72% compared to the previous day.
Earlier, EV Advanced Materials signed a contract to transfer some of its shares in Y2 Solution (formerly Yuyang D&U) to Deokwoo Electronics and multiple other transferees.
Under this contract, EV Advanced Materials will transfer 40 million of its 59 million Y2 Solution shares to Deokwoo Electronics for 23.6 billion KRW. Additionally, it will transfer 13 million shares to multiple transferees for 7.7 billion KRW, securing a total cash liquidity of 31.3 billion KRW. The company stated that it realized approximately 5 billion KRW in capital gains within six months after acquiring the shares.
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Today is the payment date for the remaining balance of the stock sale, and according to industry insiders, the payment is expected to proceed smoothly.
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