Shares of KCTech, a firm listed on the securities market, are strong in the pre-market (Pre-Market · 8 a.m. to 8:50 a.m.) on the 23rd due to news of the largest shareholder's public offering.
As of 8:32 a.m. on this day, KCTech is trading at 26,250 won, up 2,700 won (11.46%) from the previous closing price.
On this day, before the opening of the pre-market, KCTech announced that KC would publicly purchase 1,282,800 shares at 27,100 won per share. This represents 6.20% of the total issued shares, amounting to 34.8 billion won. KC is the largest shareholder, holding 30.05% of KCTech's equity.
The public offering price is about 15% higher than the previous closing price of 23,550 won, which is interpreted as attracting buying pressure. The offering will take place from this day until the 12th of next month, with NH Investment & Securities as the underwriter.
KC noted, "We determined that it is necessary to acquire equity in KCTech to ensure stable management control, and we decided to proceed with the public offering."