[Special Stock] Daemyung Sono Side Says "No Additional Purchase" News, T'way Air Down About 5%...

After Last Week's Surge, 20% Retracement
Stock Plummets Amid Denial of Additional Stake Purchase
Management Dispute Adds Uncertainty to Future Stock Direction

T'way Air, which had surged recently amid signs of a management rights dispute, is showing weakness. This is interpreted as a result of the news that Daemyung Sono Group will not make additional share purchases.

As of 1:47 PM on the 14th, T'way Air is trading at 3,300 KRW, down 5.04% (175 KRW) from the previous trading day. After signs of a management rights dispute between the largest shareholder Yerimdang and the second-largest shareholder Daemyung Sono Group emerged, T'way Air's stock price had surged to 3,990 KRW last week. It has returned nearly 20% of the gains. The market widely expected Daemyung Sono Group to conduct a public tender offer or buy shares on the market, and the shareholding gap with the largest shareholder Yerimdang is 3.2 percentage points.

As news of the management rights dispute spread, Daemyung Sono Group reportedly firmly denied plans for additional share purchases. While the prevailing view is that they have not given up on securing management rights, how they will acquire control remains unclear. Daemyung Sono Group currently holds a 26.77% stake after purchasing all shares twice this year from the private equity fund (PEF) operator JKL Partners. The largest shareholder Yerimdang holds a 29.99% stake.