JCS Medical's stock price is rising more than 18% following the news of a tender offer.
As of 2:01 PM on the 10th, JCS Medical is trading at 12,770 KRW, up 18.68% (2,010 KRW) from the previous trading day.
The decision by Archimede Group, a French healthcare-focused private equity fund (PEF) manager, to make a tender offer for JCS Medical common shares acted as a positive catalyst. Archimede, established in 2014, is a French PEF manager that primarily invests in healthcare sectors such as biopharmaceuticals, medical technology, and in vitro diagnostics.
JCS Medical announced that its largest shareholder will be changed to Syracuse Subco on this day.
Syracuse Subco is a corporation newly established in Korea by Archimede in April, and it announced that from today until the 22nd of next month, it will make a tender offer to purchase 55,724,838 common shares of JCS Medical at 13,000 KRW per share. This corresponds to 72.0% of the total potential issued shares of JCS Medical.
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