Nongshim Holdings shares are up more than 11%.
According to the Korea Exchange on the 15th, as of 9:25 a.m. that day, Nongshim Holdings was at 97,700 won, up 11% (9,700 won) from the previous transaction day.
In particular, Nongshim Holdings opened at 92,200 won and climbed to as high as 104,800 won in early trading, setting a new 1-year high.
Analysts said the rally followed views that Nongshim Holdings is trading far below its underlying strength. In particular, Hanwha Investment & Securities also noted that it sees more upside potential ahead than Nongshim.
Han Yu-jeong, an analyst at Hanwha Investment & Securities, said, "As of the close on 12th, Nongshim Holdings' net asset value (NAV) is 901.7 billion won, but its price-to-book ratio (PBR) is only 0.2 times."
She added, "Although the net worth has continued to rise on the back of gains in the corporate value of listed subsidiaries such as Nongshim, the stock is trading far below its underlying strength amid indifference."