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The stock price, which was involved in a management dispute, is skyrocketing.
As of 9:19 am on the 20th, Hwacheon Machinery is trading at 5,250 wins, an increase of 1210 wins (29.95%) from the previous trading day. After closing the trade at the previous day’s high limit, it continued to rise sharply.
The emergence of the management rights dispute between the owner family and the super ant seems to fuel the share price.
Earlier, on the 11th of last month, Kim Seong-jin, CEO of Boas Asset, filed a lawsuit to allow an extraordinary general meeting of shareholders on the 11th of last month to distribute 69.3 billion won (3,500 per share) on 103.4 billion won in retained earnings owned by Hwacheon Machinery.
Boas’ stake in Hwacheon Machinery, including CEO Kim Seong-jin, is 10.43%, making it the second largest shareholder after the largest shareholder with a 34.54% stake.
After buying a 10% stake in Hwacheon Machinery in April, CEO Kim filed a management rights dispute in Seoul’s Central District Court in July asking for permission to hold an extraordinary general meeting to appoint him and six executives. by Boas Asset. .
Meanwhile, Hwacheon Machinery is a specialized machine tool company that manufactures and sells general purpose machine tools and sells CNC machine tools supplied by Hwacheon Machine Tools nationwide. It is developing and supplying cylinder blocks to Hyundai and Kia.
Reporter Eunji Cha, Hankyung.com [email protected]
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