[Featured Stock] Hyundai Home Shopping Rises Over 14% on News of 3 Million Share Tender Offer

Hyundai Home Shopping's stock price is rising by over 14% following the news that Hyundai G.F. Holdings will publicly purchase 3 million shares.

As of 11:08 AM on the 3rd, Hyundai Home Shopping is trading at 61,000 KRW, up 14.02% from the previous day.

On this day, Hyundai G.F. Holdings announced that it will publicly purchase 3 million shares of its affiliate Hyundai Home Shopping (25% of the total issued shares) to meet the requirements of a holding company. The purchase price is 64,200 KRW per share, and the public purchase period is from today until the 22nd.

Hyundai G.F. Holdings decided on the public purchase to secure additional shares of Hyundai Home Shopping, which serves as an intermediate holding company within the group, and incorporate it as a subsidiary to enhance the competitiveness and value of the holding company.

Hyundai G.F. Holdings currently holds about 25% of Hyundai Home Shopping's shares. By acquiring shares through the public purchase, it will secure approximately 50% ownership.