Shares of MiraeING hit the upper price limit in early trading on the 17th on news that management control had been sold.
As of 9:07 a.m., MiraeING stock was trading at 2,395 won on the Korea Exchange, up 29.74% (549 won) from the previous session.
On the day before, MiraeING named Stella Private Equity (Stella PE) as the preferred bidder to acquire management control and signed a definitive agreement.
Namsung Mulsan Chairman Namgung Gyeon and X Co., the largest shareholders of MiraeING, signed a share purchase agreement (SPA) with Stella PE to sell management control equity. The actual acquiring entity will be Stella Innovation Special Purpose Company, established by Stella PE.
The final sale price was set at 120 billion won. The acquisition of MiraeING is known as a transaction that simultaneously secures management control of multiple listed affiliates under its umbrella. With the signing of the definitive agreement, Stella PE is expected to begin work to streamline the governance structure and strengthen the competitiveness of each affiliate.