[Market Focus] Douzone Bizon Jumps 23% on News of EQT Tender Offer

On news that private equity fund manager EQT is pushing ahead with a tender offer to acquire all remaining shares of Douzone Bizon, the company's share price surged.

As of 9:08 a.m. on the 23rd, Douzone Bizon was trading at 118,400 won, up 22,400 won (23.33%).

EQT announced the same day that it has set the tender offer price at 120,000 won per share and, after the acquisition, will seek a voluntary delisting. EQT had previously signed a stock purchase agreement in November last year to acquire a 37.6% management control stake (excluding treasury shares). Following the signing of the stock purchase agreement, all government approval procedures, including a business combination review by the Fair Trade Commission and a foreign investment security review by the Ministry of Trade, Industry and Energy, have been completed, allowing the transaction under the stock purchase agreement to be closed, and EQT has decided to proceed with the tender offer at the same time.