Announcing Entry into Virtual Asset Business…AP Healthcare Hits the Upper Limit

Korea Economic Daily

Summary

AP Healthcare reportedly hit the upper price limit thanks to news of its entry into the virtual asset business.
The company announced it will discuss agenda items to add objectives such as the blockchain and virtual asset investment business and a company name change at an extraordinary shareholders' meeting.
It was noted that similar announcements of entry into the virtual asset business previously led to sharp stock price increases for related companies.

AP Healthcare soared to the upper price limit. The news broke that the company will enter the cryptocurrency business.

As of 9:30 a.m. on the 11th, AP Healthcare is trading at 455 won, up 105 won (30%) from the previous day.

On the 7th, AP Healthcare announced it would convene an extraordinary shareholders' meeting on the 22nd to propose amendments to its articles of incorporation. To diversify its business, it plans to add objectives such as △ blockchain and virtual asset-related business △ blockchain and virtual asset investment business △ blockchain and virtual asset financial services. Additionally, the proposed change to the company name to 'APTOCROMInc.' will also be discussed.

Currently, AP Healthcare's main business is pharmaceuticals and distribution sales. Previously, the stock prices of companies such as BitMax and SomeAge, which also announced entry into the virtual asset business, soared.

Young-gi Jin, Hankyung.com Reporter young71@hankyung.com