Mom's Touch to Voluntarily Delist via Tender Offer at 6,200 KRW per Share

[Asia Economy Reporter Jang Hyowon] Mom's Touch, a franchise company listed on KOSDAQ, announced on the 20th that it will conduct a tender offer to voluntarily delist. The tender offer price per share is 6,200 KRW.

According to the electronic disclosure by the Financial Supervisory Service on the same day, Mom's Touch's largest shareholder, Korea F&B Holdings, announced that it will tender offer 16,087,172 shares (15.8%) of Mom's Touch & Company (Mom's Touch) at 6,200 KRW per share. This is 19% higher than the previous day's closing price of 5,200 KRW.

Among the total shares subject to the tender offer, 11,798,185 shares (11.59%) will be purchased by the largest shareholder Korea F&B Holdings, and 4,288,987 shares (4.21%) will be purchased by Mom's Touch.

Currently, the largest shareholder Korea F&B Holdings holds 68,716,080 shares (67.49%), and Mom's Touch holds 17,014,279 treasury shares (16.71%). A total of 85,733,059 shares, accounting for 84.2% of the shares, are locked. If all shares are acquired through the tender offer, 100% ownership will be obtained.

Previously, in December 2019, the private equity fund KL&Partners established Korea F&B Holdings and acquired Mom's Touch (formerly Haemaro Food Service) shares and convertible bonds (CB) totaling 56,366,083 shares at 3,500 KRW per share, amounting to 197.3 billion KRW.

Since then, Korea F&B Holdings has additionally purchased 12,349,997 shares and has steadily acquired treasury shares through Mom's Touch.

Meanwhile, this tender offer will proceed for 27 days until February 15.