Korea Exchange Announces Preliminary Designation of Korea & Company as a 'Short-Term Overheated Stock'

The Korea Exchange has announced a preliminary designation of Hankook & Company as a short-term overheated stock (single-price trading for 3 trading days).

According to the Korea Exchange's electronic disclosure on the 8th, the Korea Exchange announced the previous day that Hankook & Company may be designated as a short-term overheated stock in accordance with Article 106-2 of the Securities Market Business Regulations and Article 133-2 of the Enforcement Rules of the same regulations. The preliminary designation date is December 8.

The criteria for designation as a short-term overheated stock include stock price increase rate (the closing price on the day is 130% or more of the average closing price of the previous 40 trading days), turnover rate (the average daily turnover rate for the most recent 2 trading days including the day is 600% or more of the average daily turnover rate of the previous 40 trading days), and stock price volatility (the average daily stock price volatility for the most recent 2 trading days including the day is 150% or more of the average daily stock price volatility of the previous 40 trading days).

If designated as a short-term overheated stock, a single-price trading method in 30-minute intervals will be applied for 3 trading days.

Meanwhile, Hankook & Company closed at 22,150 KRW on the 8th in the KOSPI market, and it is observed that all three criteria of stock price increase rate, turnover rate, and stock price volatility were met.

Earlier, on the 5th, MBK Partners decided to conduct a public tender offer for 20.35% to 27.32% of Hankook & Company's shares together with Cho Hyun-sik, advisor of Hankook & Company and eldest son of Honorary Chairman Cho Yang-rae, until the 24th.

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