Shares of Binggrae, which withdrew its decision to split into a holding company, are weak in early trading on the 31st.
As of 9:34 a.m. that day, Binggrae is trading at 71,400 won, down 7,200 won (9.16%) from the previous trading day.
On the previous trading day, the 24th of this month, Binggrae announced that it would withdraw its plan for a split. Binggrae noted, "As a result of communicating with various stakeholders, it was deemed necessary to establish a clearer shareholder value enhancement plan before the transfer and establishment of the holding company, and it was determined that it would be appropriate to pursue the transfer and holding company after the business direction became more clearly visible in the future."
Previously, on Nov. 22 of last year, Binggrae's board of directors resolved to transition to a holding company system and conduct a split to pursue management efficiency and lay the groundwork for future sustainable growth.
Jang Ji-hye, a researcher at DS Investment & Securities, said, "While the momentum for the partitioning listing stock is disappointing, the outlook for performance growth centered on overseas markets remains unchanged," adding, "It's unfortunate that the investment point has disappeared, but the expectations for growth in the core business centered on overseas markets are still valid."