On the 19th, Telcoware recorded its upper limit as the largest shareholder is pursuing voluntary delisting through a public stock acquisition.
As of 9:16 a.m. on that day, Telcoware is trading at 12,750 won, up 2,940 won (29.97%) compared to the previous trading day.
The surge in Telcoware's stock price results from CEO Geum Han-tae, the largest shareholder, announcing a public acquisition from this day until the 10th of next month. CEO Geum plans to apply for voluntary delisting once the public acquisition is completed. The public acquisition price is 13,000 won per share.
Currently, the shareholding of CEO Geum and related parties stands at 30.64%, with plans to increase the shareholding ratio to 55.89% through this public acquisition. This will allow Telcoware to achieve a final shareholding ratio of 100%, together with its own shares of 44.11%.
Telcoware supplies network software to major telecommunications companies such as SK Telecom and KT.