[Featured Stock] BusinessOn Rises 7% on SkyLake Tender Offer

BusinessOn's stock price is on the rise. It is interpreted that buying interest surged as SkyLake Equity Partners (SkyLake), a domestic private equity fund (PEF) management company, decided to publicly tender for BusinessOn's shares.

At 9:40 a.m. on the 12th, BusinessOn was trading at 15,720 KRW, up 7.16% from the previous day.

SkyLake announced on the same day that it will publicly tender 6,579,452 shares, equivalent to 28.94% of BusinessOn's total potential issued shares, at 15,849 KRW per share until the 2nd of next month.

Regardless of the tender offer subscription rate, SkyLake will purchase all tendered shares, and if all target shares are acquired, its stake will amount to 99.59% (22,638,049 shares) of the total potential issued shares.