Tongyang Magic could fetch up to W1tr: analyst

[THE INVESTOR] LIG Investment and Securities projected on Aug. 31 that Tongyang Magic could fetch up to 1 trillion won (US$893.38 million). 


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“There is talk that Tongyang Magic, which was sold for 280 billion won in 2014, will be sold for 600 billion won. The final price is expected to be minimum of 600 billion won, and could be more than 1 trillion won,” LIG Investment researcher Kim Tae-hyun was quoted as saying by the local media. 

Kim cited the stiff competition in the bid for his projections.

At present five strategic investors, and a number of financial investors have been shortlisted for the final bidding.

By Choi He-suk (cheesuk@heraldcorp.com)