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[Alpha Biz=(Chicago) Reporter Paul Lee] As the deficit accumulated, Hyosung Chemical's stock price surged on the 10th, raising concerns over "capital erosion (less equity capital than capital)."
The company denied concerns over a paid-in capital increase, which was the driving force behind the plunge in stock prices, and expectations have grown that its performance will improve from the third quarter. Hyosung Chemical shares closed at 93,400 won, up 12,200 won (15.02%) from the previous trading day.
The rise in stock prices seems to be due to Hyosung Chemical's position that it is not considering a paid-in capital increase. On the same day, Hyosung Chemical said, "The paid-in capital increase is not an option we are currently considering, and we cannot make a paid-in capital increase due to the market capitalization of only 260 billion won and the high stake of related parties."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
