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[Alpha Biz=(Chicago) Reporter Paul Lee] Harim Group was selected as the preferred bidder for the acquisition of HMM, and stock prices surged, but returned to normal.
On the KOSDAQ market on the 22nd, Harim closed at 4,270 won, down 13.03% from the previous day's close. This is in contrast to the two-day upper limit on the 19th and 20th. On the 21st, it started at 5,890 won, which is nearly 1,000 won higher than the previous day's closing price of 4,905 won, but after falling shortly after opening, it closed at 4,910 won and returned all of the gains. Harim Holdings, the holding company, also made the same move. The stock surged 14.14% and 10.14%, respectively, for two days from the 19th to the 20th, but fell 10.57% on the 21st. On the 22nd, it also fell 2.03% to close at 7,710 won.
Harim Group has repeatedly fluctuated because the company has not been able to specify its funding plan to acquire HMM. Currently, securities firms believe Harim Group has no choice but to carry out a paid-in capital increase of Pan Ocean, the main body of the acquisition, to raise more than 6 trillion won in acquisition funds.
Pan Ocean shares plunged more than 10% on the 19th as a paid-in capital increase was expected to dilute the value of existing shareholders' shares.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
