Pursuits
Hyundai Merchant Jumps to Three-Week High on Asset Sale Plan
- Stake in Hyundai Asan, with North Korea projects, was sold
- Company considering sale of stake in Hyundai Securities
This article is for subscribers only.
Hyundai Merchant Marine Co. shares closed at their highest level in three weeks after announcing plans to sell stakes in affiliates, including a company that runs a resort in North Korea.
Shares of the Seoul-based company surged as much as 22 percent to 3,480 won, their highest level since Jan. 7, before closing up 12 percent at 3,195 won. That helped trim this year’s decline to 23 percent.