[Featured Stock] Tepid Yeongpung Paper Sale Battle... 15% Plunge During Trading
[Asia Economy Reporter Minji Lee] Youngpoong Paper experienced a sharp decline during trading. It is analyzed that this was due to the news that many candidates who had expressed their intention to participate in the main bid for the sale did not participate.
At 10:23 AM on the 19th, Youngpoong Paper was traded at 12,650 KRW, down 15.67% from the previous trading day. On that day, the stock price fell to as low as 12,400 KRW during trading.
On the 16th, Q Capital, the largest shareholder of Youngpoong Paper, launched the main bid to sell a 50.5% stake. According to a report on the same day, Clean Nara and Korea Land Trust, who participated in the preliminary bid, reportedly did not respond. The UK-based infrastructure investment firm MIPM Korea also failed to form a consortium and did not make the list.
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Youngpoong Paper mainly produces liner base paper used in corrugated boxes and base paper for paper tubes. It holds about a 50% market share only in premium base paper for paper tubes. Near the Pyeongtaek factory, it owns prime real estate of over 10,000 pyeong, attracting high market interest.
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