[Special Stock] Aniplus Declines Despite News of Competitor Acquisition
Aniplus is showing a downward trend despite the news of its competitor Animax's acquisition.
As of 9:36 AM on the 21st, Aniplus was trading at 4,115 KRW, down 3.29% from the previous trading day. Shortly after the market opened, it rose as much as 8.81% to 4,630 KRW but then turned downward.
The day before, Aniplus signed a contract to acquire 100% of Animax Korea's shares for 46 billion KRW. Animax is the industry's second-largest competitor holding the rights to the popular Japanese animation "Demon Slayer."
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SK Securities raised Aniplus's target price from 8,000 KRW to 8,300 KRW, expecting positive synergy from the competitor's acquisition.
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