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Hanjin KAL Preferred Shares Surge 417%, Then Turn Volatile Amid Stake Battle

As a stake battle for control of Hanjin KAL intensifies, the company's preferred shares, which generally carry no voting rights, have dramatically outperformed its common stock. On the morning of Nov.

  • Hanjin KAL preferred shares surged 417% before becoming volatile
  • Hoban Construction became largest shareholder with 20.69% stake
  • Common shares dropped 11% as preferred shares spiked

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