[Featured Stock] T'way Holdings Shows Two Consecutive Days of Gains Amid Management Dispute

by Cho Seulkina

Published 22 Jan.2025 09:50(KST)

Updated 22 Jan.2025 09:58(KST)

T'way Holdings has shown strong gains for two consecutive days following news that the management rights dispute surrounding low-cost carrier (LCC) T'way Air has intensified.

[Featured Stock] T'way Holdings Shows Two Consecutive Days of Gains Amid Management Dispute

As of 9:33 a.m. on the 22nd, T'way Holdings is trading at 1,229 KRW per share, up 20.85% from the previous close. After recording a nearly 30% increase the previous day, the stock surged to as high as 1,256 KRW during intraday trading, setting a new 52-week high. T'way Air is also trading around 3,525 KRW, up 4.9%.

This follows Daemyung Sono Group's earlier issuance of a management improvement request to T'way Air, signaling its intention to participate in management. The request included demands such as the resignation of the current management and raising funds through a rights offering. The management rights dispute has triggered a buying spree.

Currently, the largest shareholders of T'way Air are T'way Holdings and Yerimdang, holding a combined stake of 30.07%. The second-largest shareholder, Daemyung Sono Group, holds 26.77% through its holding company Sono International (16.77%) and affiliate Daemyung Sono Season (10%). With only about a 3 percentage point gap from the largest shareholders, a proxy battle is expected at the regular shareholders' meeting in March.