[Featured Stock] Shinsegae Construction, 'Voluntary Delisting Plan,' Rises Over 13%

Shares of Shinsegae Construction are strong following the news of Emart's tender offer. As of 9:17 a.m. on the 30th, Shinsegae Construction was trading at 18,160 won, up 2,110 won (13.15%) from the previous trading day.

On this day, Emart announced that its board of directors approved a tender offer for its subsidiary Shinsegae Construction on the 27th. The tender offer price is 18,300 won per share. This is about 19% higher than the closing price of 15,370 won on the 26th, one day before the board resolution.

The tender offer period is from this day until the 29th of next month. The tender offer targets 27.33% (2,120,661 shares) of the total shares of Shinsegae Construction. Emart, which holds a 70.5% stake, plans to pursue a voluntary delisting of Shinsegae Construction through the tender offer.

A company official stated, "The tender offeror will secure flexibility in Shinsegae Construction's management activities and speed in decision-making to continuously maintain and develop competitiveness."