CJ CGV shares surged more than 10% on July 30, driven by expectations that its subsidiary, CJ 4DPLEX, could secure significant investment from the National Growth Fund. The anticipation of a successful summer box office season also contributed to the stock's rise.
As of 1:43 PM KST, CJ CGV shares were trading at 5,270 won, up 500 won (10.48%) from the previous trading day. The stock opened at 4,900 won and peaked at 5,550 won early in the session before pulling back slightly but maintaining strength in the 5,200 won range.
The stock's rally is attributed to investor optimism regarding CJ 4DPLEX's efforts to attract external investments totaling 200 billion won. Reports indicate that the National Growth Fund is considering matching investments from the Advanced Strategic Industry Fund and private capital.
However, the Financial Services Commission clarified that the 'CJ CGV new business' mentioned in reports is a project proposed by the financial sector seeking participation from the National Growth Fund, but it has not yet undergone detailed review.
The competitive landscape of summer blockbusters is also bolstering investor sentiment. Director Na Hong-jin's film 'Hope' is expected to surpass 4 million viewers this weekend. Additionally, 'Spider-Man: Brand New Day,' starring Tom Holland, attracted 680,000 viewers on its opening day, heightening box office expectations.
Furthermore, Christopher Nolan's new film 'Odyssey' is set to premiere on August 5.
* This article has been translated by AI.
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