[Edaily Reporter Kim Kyung-eun ] SANGSANGININVESTMENT&SECURITIES(001290)Shares of Sh Suhyup Bank have been on the rise for three consecutive trading days amid expectations that the bank is pursuing an acquisition.

According to MP Doctor on the 10th, as of 9:10 a.m. that day, SANGSANGINVESTMENT&SECURITIES was trading at 1,318 won, up 115 won (9.56%) from the previous trading day.

Following consecutive daily limit-up moves on the 6th and 7th, the stock has continued its upward trend for three consecutive trading days. This is interpreted as the result of news regarding SH Suhyup Bank’s push to acquire SANGSANGINVESTMENT&SECURITIES stimulating investor sentiment.

According to the financial investment industry, SH Suhyup Bank signed a memorandum of understanding (MOU) with Sangsangin Co., Ltd. last month to acquire SANGSANGINVESTMENT&SECURITIES and is currently proceeding with the relevant procedures.

SANGSANGINVESTMENT&SECURITIES stated in a regulatory filing, “Our largest shareholder, Sangsangin Co., Ltd., is currently in discussions with Sh Suhyup Bank regarding the sale of our shares.” However, the company added, “No specific details have been finalized as of yet,” and stated, “We will issue another disclosure once the details are finalized or within one month.” The scheduled date for the follow-up disclosure is September 4.

Market observers expect that if Shinhan Bank acquires SANGSANGININVESTMENT&SECURITIES, it will be able to expand its bank-centric business portfolio into non-banking sectors such as securities and asset management.