by Lee Myeonghwan
Published 26 Apr.2022 10:05(KST)
[Asia Economy Reporter Myung-hwan Lee] Paper Korea, a paper manufacturing company, is showing strong performance in early trading on the 26th. This is attributed to the news of the largest shareholder's sale push announced the previous day.
As of 10 a.m. today, Paper Korea is trading at 2,875 KRW, up 23.39% (545 KRW) from the previous trading day. At one point in early trading, it was trading at 3,025 KRW, up 29.83% from the previous day, approaching the price limit of 30%.
This is presumed to be the aftermath of the news that Paper Korea's largest shareholder, Yuamco (Yeonhap Asset Management), is pushing for the sale of management rights, which was reported the day before.
Accordingly, the Korea Exchange's KOSPI Market Division requested Paper Korea to disclose an inquiry regarding the report on the largest shareholder's stake sale push. The disclosure deadline is by 6 p.m. on the 26th.
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