[Featured Stock] 'Tender Offer for Delisting' Sinseong Tongsang Up Over 12%

The stock price of fashion company Shinseong Tongsang, which decided to conduct a tender offer for delisting, is soaring. As of 9:14 AM on the 21st, Shinseong Tongsang's stock price is trading at 2,285 KRW, up 255 KRW (12.56%) compared to the previous trading day.

On this day, Shinseong Tongsang announced that its largest shareholder, Ganaan, will conduct a tender offer for 31,644,210 shares (22.02% of the total issued shares) for the purpose of delisting. The purchase price is 2,300 KRW per share, and the purchase period is until the 22nd of next month. Ganaan plans to tender offer all shares except the 77.98% currently held by them.

A Shinseong Tongsang official stated, "Even if voluntary delisting proceeds, we plan to establish measures to protect minority shareholders, such as on-market purchases during the orderly trading period granted upon delisting approval and off-market purchases after delisting," adding, "through delisting, we will secure flexibility in management activities and speed in decision-making to continuously maintain and develop the company's competitiveness."