[Featured Stock] Daebo Magnetic Rises 16% on Management Rights Sale Rumors
Daebo Magnetic, a KOSDAQ-listed company, is rising more than 16% on news that it is pursuing a sale of its management rights.
As of 11:05 a.m. on the 4th, Daebo Magnetic is trading at 28,000 KRW, up 16.42% (3,950 KRW) from the previous trading day.
Yesterday's media report that the company is pursuing the sale of its management rights appears to have acted as a positive factor for the stock price. However, no official company announcement regarding the sale of management rights has been released so far.
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Daebo Magnetic is the leading company in battery electromagnetic separators (EMF). On a consolidated basis for the first quarter, sales increased to 11.3 billion KRW from 10.5 billion KRW in the same period last year, with operating profit and net profit recorded at 900 million KRW and 1 billion KRW, respectively.
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