[Featured Stock] Seoulrigger Hits Upper Limit on Acquisition of Control Rights in Implant Company Dio

On the 22nd, the KOSPI and KOSDAQ indices closed lower due to concerns over armed conflict between Russia and Ukraine. Dealers are working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] Seoul Rigger's stock price surged to the upper limit on the 15th following news of the acquisition of management rights of dental implant company Dio.

On the day, Seoul Rigger traded at 1,270 won, up 29.59% from the previous day’s closing price, hitting the upper price limit.

According to the Financial Supervisory Service's electronic disclosure system, Dio signed a stock purchase agreement the day before to sell its management rights.

The Sesim consortium will acquire 4,170,563 shares (26.4%) held by Dio Holdings, the largest shareholder, and its related parties. The Sesim consortium also agreed to purchase 2,416,146 new shares (9.8%) through a third-party allotment capital increase. In total, the Sesim consortium will secure 6,586,709 shares (36.2%) by investing 306.4 billion won.

The Sesim consortium consists of investment specialist company Sesim and Seoul Rigger, among others. Sesim, leading the consortium, is a company wholly owned by Hong Seong-beom, founder of Hugel and CEO of Shanghai Seoul Rigger Medical Aesthetic Hospital. After founding Hugel in 2001 and growing it into a global company, Hong sold it to Bain Capital in 2017. In 2014, he opened Shanghai Seoul Rigger Medical Aesthetic Hospital in Shanghai, China, and developed it into a top-tier hospital.