[Market Focus] KC Tech Surges on News of Public Tender Offer by Largest Shareholder

As of 9:30 a.m. on April 23, shares of KC Tech, a semiconductor and display equipment manufacturer listed on the Korea Exchange, were trading at 26,200 won, up 11.25% from the previous day's closing price. This appears to be due to news of a public tender offer by the largest shareholder.

Before the market opened on this day, KC, the largest shareholder of KC Tech, announced that it would make a public tender offer for 1,282,800 shares of the company at 27,100 won per share. This represents 6.20% of the total outstanding shares, amounting to approximately 34.8 billion won. KC, a utility equipment company for semiconductor and display processes, currently holds a 30.05% stake in KC Tech, making it the largest shareholder.

The largest shareholder of KC, which is also listed on the Korea Exchange, is KC Tech Vice Chairman Koh Sanggeol, who holds a 27.01% stake. Including the founder, Chairman Koh Seoktae, and other related parties, the combined stake amounts to 42.05%, which is considered high among listed companies. KC stated, "We decided on the public tender offer for KC Tech in order to secure stable management control."

KC Tech was established in 2017 through a spin-off of KC's business division. The company manufactures and sells front-end process equipment and consumable materials used in semiconductor and display manufacturing. According to its consolidated financial statements, the company recorded sales of 385.4 billion won and operating profit of 49.8 billion won last year.