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[Apha Biz=(Chicago) Reporter Paul Lee] Stock prices fluctuated as rumors of the sale of management rights of semiconductor material maker DNF surfaced.
DNF is where Samsung Electronics is a major shareholder, with its stock price rising more than 80% from the beginning of this year.
According to the Korea Exchange on the 9th, DNF's stock price surged at 2:30 p.m. due to rumors of the sale of management rights. It rose up to 10% from the previous day's close of 26,250 won, but later closed at 23,950 won, down 8.76%.
DNF is a stock that has drawn keen attention among investors, with its stock price rising more than 80% from the beginning of the year.
The sharp rise in stock prices on the day is largely attributed to rumors of the sale of DNF's management rights.
The M&A is known to be supported by Now IB, a private equity fund (PEF) operator whose largest shareholder is Chung Ji-wan, chairman of SoulBrain. Now iB has about 1 trillion won in operating assets and is actively investing in buyouts through M&A funds as well as venture investments. A Now iB official said, "I don't know about this deal."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
