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Korea Hot Stocks-Neowiz dives on report of EA stake sale
December 5, 2012 / 2:10 AM / 5 years ago

Korea Hot Stocks-Neowiz dives on report of EA stake sale

SEOUL, Dec 5 (Reuters) - South Korea’s main KOSPI share index was down 0.13 percent at 1,932.71 as of 0155 GMT. The junior Kosdaq index was down 1 percent at 497.53.

Stocks on the move on Wednesday include:


Shares in Neowiz Corp and its affiliate Neowiz Games Corp plunged by the daily limit of 15 percent after a media report said their major shareholder Electronic Arts plans to dispose of the entire 27.35 percent stake the U.S. game publisher has in the two South Korean companies.

Electronic Arts sought to sell the shares at discounts of 10 to 15 percent in a block deal estimated at 83.1 billion Korean won ($76.70 million), the Korea Economic Daily said on Wednesday.

Neowiz Corp officials were not immediately available for comments.

Other game firms also lost ground, with NCsoft plunging as much as 11 percent.


The shares of nTels surged by the daily limit of 15 percent after media reports that Japanese mobile operator SoftBank Corp has invested 1.6 billion Korean won ($1.48 million) in the South Korean firm.

A unit of SoftBank Korea, SoftBank Ventures Korea, bought a 4.56 percent stake in the South Korean software provider for fixed-line and mobile carriers in a block deal, media reports said.

Officials at nTels were not available for comments immediately. ($1 = 1083.4500 Korean won) (Reporting by Hyunjoo Jin and Somang Yang; Editing by G.Ram Mohan and Anupama Dwivedi)

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