[Featured Stock] GRT Hits Upper Limit on Plans for Nasdaq Listing in the US
GRT recorded a limit-up. It appears that the news of deciding to list on Nasdaq through a merger with a U.S. Special Purpose Acquisition Company (SPAC) influenced this.
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As of 2:18 PM on the 22nd, GRT was trading at 5,430 KRW, up 1,250 KRW (29.90%) compared to the previous trading day.
GRT announced on the same day that it will merge its overseas subsidiary, 'GRT Meojeoseuta (MERGER STAR LIMITED·surviving corporation)', with a SPAC listed on Nasdaq. The scheduled listing date is March 28 of next year.
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A GRT official stated, "After completing the listing on the U.S. Nasdaq market, GRT plans to promote global business and further enhance its competitiveness in the international market based on stronger capital capability and resource advantages."
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