[Special Stock] Sejong Medical Surges on Acquisition News
[Asia Economy Reporter Junho Hwang] On the 18th, the stock prices of Sejong Medical and Canaria Bio (formerly Hyundai Feed) surged in the stock market.
As of 10:08 AM, Sejong Medical's stock price recorded 7,080 KRW, up 14.19% compared to the previous closing price. Following this, Canaria Bio also rose 6.79% to 40,100 KRW. This appears to be due to the news that Canaria Bio M is acquiring Sejong Medical.
On the same day, Canaria Bio announced that its parent company, Canaria Bio M, will acquire 100% of the shares of Sejong Medical Company, the largest shareholder of Sejong Medical, together with financial investors (FIs) holding 60%.
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Through this acquisition, Canaria Bio M will secure Sejong Medical's medical device business and additional new drug pipelines.
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