SEOUL - The KOSPI 200 index's latest closing prices indicate varied performances among leading South Korean corporations. The index, a key indicator of market movement, showed a mixture of gains and losses across different industries.
According to Yonhap News Agency, MS IND's stock closed down 230 points at 18,120, According to Yonhap News Agency, the recent closing price list. OCI Holdings also experienced a decrease, closing down 1,600 points at 95,500. LS ELECTRIC's stock declined by 2,300 points, ending the day at 72,500. However, KorZinc saw a significant increase, closing up 8,000 points at 526,000.
SamsungHvyInd and HyundaiMipoDock both faced declines, closing down 60 and 200 points respectively. IS DONGSEO, on the other hand, saw an increase, closing up 550 points at 27,650. S-Oil's stock decreased by 700 points to close at 68,400, while LG Innotek experienced an increase, closing up 1,000 points at 237,000.
LOTTE CHEMICAL Corp's stock rose significantly, closing up 5,100 points at 161,500. HMM and HYUNDAI WIA both saw declines, closing down 700 and 800 points respectively. KumhoPetrochem and SKC showed contrasting movements, with KumhoPetrochem closing higher and SKC experiencing a decrease.
Other stocks such as MIRAE ASSET SEC and SAMSUNG SDI CO.,LTD. showed varied performances, with MIRAE ASSET SEC closing lower and SAMSUNG SDI CO.,LTD. closing higher. KPIC and GS Retail both saw gains, while Ottogi remained unchanged.
SEOUL - In a significant move within South Korea's corporate landscape, MBK Partners, a private equity firm, together with an elder brother of Hankook & Company Co. Chairman Cho Hyun-bum, have initiated a public tender offer for the holding company of the country's leading tire manufacturer.According to Yonhap News Agency, the details released in a regulatory filing by Hankook & Company, Ventura, a special purpose entity established by MBK Partners, has proposed to acquire between 20.35 percent and 27.32 percent of Hankook & Company's shares. The offer price is set at 20,000 won (approximately US$15.20) per share. The tender offer agreement, involving Ventura, the elder brother of Hyun-bum, Hyun-sik, and his elder sister, Hee-won, was signed on November 30.
Currently, Hyun-sik holds an 18.93 percent stake in the holding firm, while Hee-won owns 10.61 percent. Should the takeover bid succeed, Ventura, Hyun-bum, and Hee-won would collectively control a majority stake in Hankook & Company, ranging from a minimum of 50 percent to a potential 57 percent.
The Cho siblings are the children of the late Cho Yang-rai, who previously chaired the tire manufacturing company. Hankook & Company serves as the holding entity for Hankook Tire & Technology Co., recognized globally as the seventh-largest tiremaker by sales.
Following the announcement of the tender offer, Hankook & Company's shares experienced a significant surge, witnessing an increase of over 19 percent at one point during intraday trading.