iFamilySC, which operates the cosmetics brand Romand, has reached its upper trading limit following news of a tender offer from Japan's Marubeni Corporation.
According to the Korea Exchange, as of 1:36 PM on the 23rd, iFamilySC shares were trading at 10,940 won, up 2,520 won (29.93%) from the previous trading day. The stock surged to its upper limit early in the session and has maintained its gains.
The sharp increase in share price is attributed to the announcement that Welliant, a special purpose company (SPC) controlled by Marubeni, will conduct a tender offer for iFamilySC's common shares.
The tender offer period runs from today until November 11. The purchase price is set at 12,000 won per share, which is 42.5% higher than the previous closing price of 8,420 won. The planned purchase volume ranges from a minimum of 20% to a maximum of 28% of the total issued shares, with a maximum purchase amount of approximately 56 billion won. NH Investment & Securities is the lead manager for the tender offer.
Marubeni aims to pursue a strategic partnership with iFamilySC through this tender offer and support its overseas business expansion. Upon completion of the tender offer, Marubeni will have the right to appoint at least one director based on its shareholding percentage. The appointed director will oversee international strategies and brand expansion projects.
Changes in the management structure are also anticipated. A new investment committee, which will advise the CEO, along with a business development department and a management planning department, will be established to support the exploration of global business partnerships, investment opportunities, and post-merger integration (PMI). However, Marubeni has agreed to recognize the management rights of the existing co-CEOs, who will retain their positions for at least three years.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.