[Special Stock] Hansol PNS Rises on News of Parent Company's Full Stake Tender Offer

Push for Delisting After Full Tender Offer

Hansol PNS recorded a limit-up. This is interpreted as having stimulated investor sentiment after the holding company announced it would conduct a full tender offer to delist Hansol PNS.

At 9:07 a.m. on the 31st, Hansol PNS surged to the limit-up price of 1,558 KRW. This followed Hansol Group’s decision to fully tender offer shares of its IT affiliate Hansol PNS at 1,900 KRW per share, which is higher than the current price, and then proceed with delisting.

Earlier, Hansol Holdings, the holding company of Hansol Group, disclosed that it decided to conduct a tender offer for up to 11,052,677 registered common shares of Hansol PNS (53.93% of the total issued shares) from today until the 30th of next month.

The tender offer is being managed by NH Investment & Securities, and Hansol Holdings plans to use 21 billion KRW of its own funds for the tender offer of Hansol PNS.

Hansol Holdings currently holds a 46.07% stake in Hansol PNS, making it the largest shareholder. It stated that it plans to acquire all remaining circulating shares through this tender offer and apply for voluntary delisting. The closing price of Hansol PNS on the previous trading day (the 28th) was 1,199 KRW, meaning the tender offer price is about 58% higher.

Hansol PNS, listed on the Korea Composite Stock Price Index (KOSPI), operates businesses such as introducing intelligent factory systems, cloud (computing resource rental) services and management, and IT infrastructure construction for Hansol Group and external customers. It also handles the distribution of paper products such as printing paper. Last year, its sales reached 313.6 billion KRW, a 0.63% increase compared to the previous year. Operating profit turned positive at 3.4 billion KRW, marking a successful return to profitability within one year.