[Asia Economy Reporter Jang Hyowon] Dios Tech, a company specializing in optical lenses for smartphones, has officially distributed a teaser letter (investment prospectus) for the sale of the company, marking the official start of the sale process.
On the 21st, Dios Tech announced that it will officially distribute the teaser letter containing company introduction materials to potential buyers through its sale advisor, Samjong KPMG Deal Division 5.
Dios Tech is aiming to complete the sale process by November. After selecting a transaction partner, it plans to hold a temporary shareholders' meeting at its headquarters in Yongin, Gyeonggi Province, appoint new management, and finalize all sale procedures.
Dios Tech's stock trading has been suspended since July 17 due to the former CEO's embezzlement allegations, and it is currently subject to a substantive review of listing eligibility by the stock exchange. The company’s strategy is to enhance corporate value, improve its structure through this sale, and pass the stock exchange’s substantive review.
A company official stated, "Having grown into an optical lens specialist with technological competitiveness through self-developed latest automation facilities and continuous R&D, we expect a successful sale." He added, "Despite difficulties caused by the COVID-19 pandemic, factory operations and company management have been stable."
He continued, "With Samjong KPMG, ranked second in domestic M&A advisory transaction volume, serving as the public sale advisor, we anticipate a swift sale to a financially capable and competent company," he emphasized.
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