OCI Group, a chemical, solar power and electric car battery material maker, looks to merge with drugmaker Hanmi Pharmaceutical Group, as the two entities seek business synergies to create the Korean version of Bayer, the German chemicals-to-pharmaceuticals giant. On Friday, OCI Holdings and Hanmi Science, the holding units of the two entities, made a surprise announcement that they were merging through a stock acquis.
By Kwanwoo Jun Hanmi Science shares jumped after the company's board paved the way for its founding family to sell a controlling stake, easing concerns about.
The initial public offering (IPO) market in Korea is forecast to be robust throughout 2024, as a spate of big-name firms estimated to be worth trillions of won in their respective market capitalization will go public.
The tech giant said tentative operating profit last year decreased 84.92 percent compared to 2022, while sales declined 14.58 percent to 258.16 trillion won.