[Hot Stock] Q Capital Soars 13% on News of Being Selected as Green Snake Media's Strategic Partner

Chorokbaem Media, Major Shareholder Sells Stake After Trading Suspension
Q Capital Selected as Final Bidder
Citi Property and TN Entertainment Also Rise Together

Q Capital surged immediately after the market opened on the 12th. The news that it was selected as the preferred negotiator for Chorokbaem Media appears to have influenced this.

As of 9:06 a.m. that day, Q Capital was trading at 351 won, up 13.23% (41 won) from the previous close. It hit an intraday high of 391 won (26.13%). The 391 won is Q Capital's highest price this year.

The day before, Chorokbaem Media announced that "the PEF (private equity fund) operated by Q Capital Partners has been selected as the preferred negotiator." Chorokbaem Media, a KOSDAQ-listed company, had its trading suspended last June when a warrant for the arrest of former Chorokbaem Group chairman Won Young-sik was issued. In December of the same year, Citiproperty (formerly Chorokbaem Company), the largest shareholder of Chorokbaem Media, announced that it would publicly sell all of its 39.33% stake and the management rights of Chorokbaem Media through a restricted competitive bidding process.

Multiple bidders, including Q Capital and Cactus Private Equity (PE), participated in the main bidding, engaging in a fierce competition, with Q Capital ultimately selected as the preferred negotiator. It was also reported that Artist United, whose largest shareholder is actor Lee Jung-jae, participated, drawing attention. Q Capital recently secured 'ammunition' by being consecutively selected as a delegated asset manager (GP) in investment projects by the Korea Development Bank and the Export-Import Bank of Korea. The acquisition stake is approximately 200 billion won. This transaction is expected to resolve the delisting issue for Chorokbaem Media.

The seller, Citiproperty, is also up 0.96%, and T&Entertainment, a subsidiary of Chorokbaem Media, is rising 2.96%. T&Entertainment manages artists such as Lee Young-ja, Jang Yoon-jung, and Lee Chan-won. Chorokbaem Media is one of Korea's leading drama production companies, having produced dramas such as 'All In', 'Jumong', 'Chuno', 'My Mister', 'Producer', 'Another Miss Oh', and 'My Liberation Notes', as well as sitcoms like 'High Kick Through the Roof' and 'Unstoppable High Kick'.