Asahi Glass raises stake in Hankuk Electric Glass

Hankuk Electric Glass went limit-up (it reached the maximum price increase from a previous days settlement price allowed in a single trading session) in late afternoon trade after news that Asahi Glas…

Hankuk Electric Glass went limit-up (it reached the maximum price increase from a previous days settlement price allowed in a single trading session) in late afternoon trade after news that Asahi Glass of Japan, its largest shareholder, Asahi Glass of Japan had increased its stake in the company to 42.76% from 30% by buying the entire 12.76% stake held by Nippon Electric Glass (NEG), according to dealers. Asahi bought 1.03 million shares in Hankuk from NEG at KRW 53,500 per unit to raise its total stake to 3.45 million shares, according to Hankuk. At 2.11 pm, Hankuk Glass was limit-up KRW 8,100 or 15.00% at KRW 62,100.