South Korean stock market authorities will launch an investigation to determine if Hyundai executives used confidential information about the company’s talks with Apple in order to profit from the increase in its share price.
As of January 8, when local media first reported on Hyundai’s talks with Apple, 12 Hyundai executives traded about 3,400 shares of the company, worth about 833 million won (620,000 euros), to profit from the increase. of Hyundai share price. The Financial Services Commission of the South Korean Stock Exchange will examine whether there was fraud.
The Korean company’s share increased by 21% after the news about the possible cooperation of the Korean company with Apple, so that Hyundai / Kia can build the Apple car. In the end, the talks did not bear fruit.
Source: Autoblog.gr by www.autoblog.gr.
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