Hyosung Chemical, which plans to sell its specialty gas business, is experiencing an upward trend in early trading on the 13th.
As of 9:38 a.m. on that day, Hyosung Chemical was trading at 52,400 won, up 7,450 won (16.57%) from the previous trading day. Following the opening, it rose to 57,000 won, showing strong momentum.
The previous day, when Hyosung TNC officially announced its plan to acquire the specialized gas business division of Hyosung Chemical for 920 billion won, it is interpreted that buying sentiment gathered due to expectations of improved financial structure. Hyosung Chemical is in a situation where its current liabilities, which must be repaid within a year, exceed 1 trillion won due to failed investments in China and worsening market conditions.
Hyosung TNC plans to hold an extraordinary shareholder meeting on the 23rd of next month to vote on the approval of the business transfer of Hyosung Chemical's specialty gas division. There are expectations that the acquisition could be completed by the end of next year. At the same time, Hyosung TNC also rose by 1.99%.