S.Korea's Dual Industrial plunges after co drops bid to buy crypto exchange stake

Hyulim A-Tech

30/07/2019 02:30

** Shares of Dual Industrial  078590.KQ  tumble nearly 30%
after co drops its bid to buy stake in SG BKGroup, owner of
South Korea's leading virtual currency exchange Bithumb 
    ** Auto parts maker Dual Industrial said http://dart.fss.or.kr/dsaf001/main.do?rcpNo=20190709900359
 on July 9 it would buy a 57.4% stake in SG BKGroup for 235.7
bln won ($199.49 mln) 
    ** Dual, however, said http://dart.fss.or.kr/dsaf001/main.do?rcpNo=20190729900476
 on Monday it would not buy the stake due to violation of
agreement by SG BKGroup
    ** In Oct last year, Bithumb was sold for about $354 mln to
a consortium led by a plastic surgeon, Kim Byung-gun, head of
Singapore-based BK Medical Group  urn:newsml:reuters.com:*:nL4N1WS2QT
    ** The broader KOSPI market  .KS11  was up 0.3%, while the
junior KOSDAQ index  .KQ11  was nearly 1% higher
    
($1 = 1,181.5100 won)
    

 ((hayoung.choi.thomsonreuters.com@reuters.net))