Reported 6 months ago
A South Korean billionaire's record divorce settlement is driving a surprising surge in his company's stock, with investors speculating that he will take measures to increase its value to cover the settlement with his estranged wife. SK Inc., the conglomerate's holding company, saw a significant rise in its stock price after a court ordered the chairman to pay a substantial divorce settlement. The court ruling has sparked expectations that the billionaire may work to enhance SK Inc.'s stock price as he is required to pay in cash, leading to a 9.3% increase in the stock price.
Source: YAHOO