[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities has significantly lowered its target stock price for Pan Ocean, which was selected as the preferred bidder for the acquisition of HMM.

Daishin Securities maintained its investment opinion of Pan Ocean as 'buy' in a report on the 20th and lowered its target stock price to 4,500 won, down 35.7% from the previous 7,000 won.

Daishin Securities explained, "Pan Ocean lowered its target stock price due to the possibility of large-scale permanent bonds and paid-in capital increase to raise funds for the acquisition of HMM."

Stock prices are also responding to news of the HMM acquisition. Pan Ocean was traded at 4,555 won until the 18th, but closed at 4,095 won, down 10.10 percent, after setting up a consortium with its parent company Harim and JK Partners on the 19th to be selected as the preferred bidder to acquire HMM. On the 20th, the market continued to weaken, trading at 3,990 won, down 2.56% from the previous day at 9:45 p.m.

 

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