[Featured Stock] Hyundai Feed, Trading Halted Twice but Surges Again "Investors Should Be Cautious"

[Asia Economy Reporter Lee Seon-ae] Hyundai Feed is showing a surge on the first trading day of April, the 1st.

At 10:06 AM on this day, Hyundai Feed was trading at 144,300 KRW, up 23.63% compared to the previous trading day. The stock price surged from the opening price of 121,800 KRW to as high as 147,000 KRW.

Hyundai Feed hit the upper price limit for seven trading days from the 21st to the 30th of last month. The stock price, which was only 18,700 KRW on the 18th of last month, surged to 116,800 KRW by the 30th of last month in less than half a month.

The reason for the current surge in Hyundai Feed's stock price is speculated to be that Duol Mulsan (currently Canaria Bio) is attempting a backdoor listing through Hyundai Feed, a KOSDAQ-listed company. Earlier, on the 21st of last month, Hyundai Feed announced that it had signed a contract to transfer 71.07% of its shares to Canaria Bio and others. Accordingly, Canaria Bio will acquire 49.75% of Hyundai Feed's shares for 70 billion KRW, becoming the largest shareholder.

However, the Korea Exchange (KRX) designated Hyundai Feed as a high-risk investment stock and suspended trading twice on the 28th and 31st of last month, so caution is advised for investors.

This content was produced with the assistance of AI translation services.