[Special Stock] Hanyang Securities Falls on News of Sale Contract Postponement
Hanyang Securities is showing a downward trend from the beginning of the trading session following news that the sale contract period has been extended.
As of 9:05 AM on the 5th, Hanyang Securities is trading at 15,910 KRW, down 1.06% (170 KRW) compared to the previous day.
After the acquisition news was announced, Hanyang Securities' stock price surged to the 18,000 KRW range, but it is interpreted that the stock price is falling as reports emerged that KCGI, the preferred bidder, is facing difficulties in funding.
According to media reports, KCGI is planning a project fund to raise acquisition capital. They have approached about 10 financial institutions, including OK Financial Group and Meritz Securities, to gauge their willingness to invest, but no funding has been confirmed yet.
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KCGI had planned to sign the Stock Purchase Agreement (SPA) with the Hanyang Securities sale side next week, but the negotiation period has been extended by one week.
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