Shares of the lighting company Solux recorded the upper limit price in early trading on the 10th. This followed Aribio's signing of an exclusive sales contract worth 820 billion won while pursuing a merger with Solux.
As of 9:23 a.m. on the 10th, Solux stocks were trading at 5,600 won, up 1,285 won (29.78%) from the previous trading day, marking the upper limit price in the Korea Securities Dealers Automated Quotations (KOSDAQ) market.
The buying momentum is interpreted as stemming from the domestic biotechnology corporation Aribio, which is pursuing a merger with Solux in August, announcing the news of a large-scale contract.
On that morning, Aribio announced that it had signed a technology export contract for the oral Alzheimer's treatment 'AR1001' with Arsera, a life sciences company based in Abu Dhabi, United Arab Emirates (UAE). The contract is worth approximately 820 billion won.
Arsera is a corporation established by the sovereign wealth funds of the UAE. It is known to supply more than 2,000 pharmaceutical products to over 90 countries worldwide.