Hoban's Hanjin KAL stake gains $822 million in Nov. amid sharp share price swings
Hoban Group’s stake in Hanjin KAL, the holding company of Hanjin Group, gained an estimated 1.1 trillion won ($822 million) in market value this month through Friday, despite sharp share price swings. Its value also rose by about 265.2 billion won from Nov. 4, when Hoban was disclosed as the company’s largest shareholder. Hoban emerged as Hanjin KAL’s second-largest shareholder in 2022 and…
Hoban Group's investment in Hanjin KAL, the parent company of defunct carrier Hanjin, saw its market value surge by an estimated $822 million this November. Despite experiencing significant fluctuations in share price, the stake's value increased by roughly 265.2 billion won since November 4 when Hoban was identified as the leading shareholder.
The Hanjin KAL shares reached a closing high of 239,000 won on Tuesday, marking a remarkable 92.9 percent increase from October's final closing price of 123,900 won. However, profit-taking led to a decline of 14.64 percent on Wednesday and a further 0.49 percent on Thursday, before the stock rebounded with a 0.25 percent increase on Friday to close at 203,500 won.
Based on the disclosed shareholding, Hoban's stake in Hanjin KAL was valued at approximately 2.8 trillion won.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
