Shares in Hyundai Glovis jumped as high as 10.4% on Thursday after US hedge fund Carlyle bought a 10% stake in the logistics arm of the Hyundai Motor Group as the founding family moved to avoid a regulatory clash with the South Korean government.
Hyundai Glovis shares surged in morning trading on Seoul’s benchmark Kospi index, before gradually paring gains to close the day 6.7% higher.
