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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] Namyang Dairy Products faced a decline on its first trading day following an 8-day suspension due to a stock split.
On November 20, shares of Namyang Dairy on the KOSPI market closed at 67,700 KRW, down 1.46% from the last trading price before the suspension. During early trading, the stock dropped as much as 10.77%, hitting an intraday low of 61,300 KRW. However, the stock later rebounded, climbing to an intraday high of 70,600 KRW, up 2.76%.
The 10:1 stock split led to the trading suspension from November 8 to 19. Namyang Dairy’s stock price had surged from the 40,000 KRW range to over 60,000 KRW in September and October, following decisions to retire treasury shares and execute the stock split.
Earlier this year, Namyang Dairy underwent a major ownership transition when Han & Company acquired the business, ending six decades of control by the founding family.
In its third-quarter results, the company reported an operating profit of 500 million KRW, marking its first return to profitability in 20 quarters since Q2 2019.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
