S.Korea's Woongjin, affiliates surge on report Netmarble to acquire stake in Coway

Woongjin Co

14/10/2019 01:44

** Shares of Woongjin  016880.KS  and Woongjin Thinkbig
 095720.KS  soar, after a media report says a gaming firm
Netmarble  251270.KS  to be selected as preferred bidder to buy
stake in their water purification unit, Woongjin Coway
 021240.KS 
    ** Woongjin is the top shareholder of Woongjin Thinkbig,
while Thinkbig holds around 25% of shares in Coway, according to
regulatory filings 
    ** Korea Economic Daily reports https://www.hankyung.com/it/article/2019101311271
 Thinkbig is set to hold a board meeting to pick Netmarble as a
preferred bidder for a deal to sell its shares in Coway
    ** Netmarble has offered to buy a 25.08% stake in Coway for
1.83 trillion won ($1.55 billion) - report 
    ** Woongjin and Thinkbig rise as much as 30% and 25%,
respectively, while shares of Coway add around 2%
    ** Shares of Netmarble drop more than 1% 
    ** The broader KOSPI market  .KS11  was trading up 1.2%

($1 = 1,184.1000 won)
    

 ((Hayoung.Choi@thomsonreuters.com; +82 2 6936 1468))