The medical device corporation VIOL is showing strong performance early in the session on the 18th. It appears that buying interest is concentrated as the private equity fund (PEF) operator VIG Partners revealed plans for a management buyout and public stock purchase.
As of 9:18 a.m. on this day, VIOL is trading at 12,360 won, an increase of 1,160 won (10.36%) compared to the previous trading day.
VIG Partners announced that it will acquire VIOL through a special purpose company, Vienna Investment Purpose Company, and conduct a public buyout for delisting. The buyout price is set at 12,500 won per share, a price that is 11.6% higher than the previous day's closing price of 11,200 won. The total investment amount is approximately 468 billion won.
The public buyout will be conducted from today until the 7th of next month. However, if the number of shares tendered for the public buyout does not reach the minimum target of 12,125,998 shares, all tendered shares will not be purchased.