Hanwha Galleria hit the daily trading limit on expectations tied to a group governance overhaul and a planned new company.
According to the Korea Exchange, Hanwha Galleria was trading at 3,340 won as of 9:53 a.m. on April 24 on the Korea Composite Stock Price Index, up 770 won, or 29.96%, from the previous session, reaching the price limit.
A day earlier, the Korea Exchange confirmed a positive preliminary review for the relisting of shares in Hanwha Machinery & Service Holdings (tentative name), a company Hanwha plans to create through a split-off.
Hanwha plans to establish and relist Hanwha Machinery & Service Holdings through a spin-off to manage subsidiaries including Hanwha Vision and Hanwha Galleria and to pursue new investments. The planned establishment date is Aug. 1, with listing scheduled for Aug. 25.
Separately, the newly created Tech · Life entity will be led by Kim Dong-seon, vice chairman of Hanwha Galleria.
Hanwha said it approved the creation of Hanwha Machinery & Service Holdings at a board meeting in January to oversee tech affiliates including Hanwha Vision, Hanwha Momentum, Hanwha Semitec and Hanwha Robotics, as well as life affiliates including Hanwha Galleria, Hanwha Hotel & Resort and Ourhome.
* This article has been translated by AI.
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