The stock price of Sammok S-Form, a KOSDAQ-listed company, is strong in early trading on the 8th. The buying momentum is interpreted as stemming from the news that Chairman Kim Jun-nyeon will publicly purchase 9.52% of the company's equity through his affiliate.
As of 10:15 a.m. on the same day, Sammok S-Form was trading at 22,550 won, up 3,050 won (15.64%) from the previous trading day.
Sammok S-Form's largest shareholder, S-Form, along with major shareholder SVC, announced that they will publicly purchase 1.4 million shares (9.52%) of Sammok S-Form before the market opens on the same day.
The largest shareholders of the two companies are Chairman Kim Jun-nyeon and his related parties. The public purchase will be conducted at NH Investment & Securities at 22,800 won per share from the 8th until the 29th. The settlement date is set for the 1st of next month.
Compared to the previous trading day, which closed at 19,500 won on the 5th, the public purchase price is about 17% higher.
S-Form noted, "We are conducting the public purchase to strengthen responsible management as a major shareholder while striving to establish a swift and efficient decision-making system to enhance the business competitiveness of Sammok S-Form." They added that they are not considering voluntary delisting after the public purchase.
Upon completion of the public purchase, S-Form's equity stake will increase from 38.43% to a maximum of 45.86%, while SVC's stake will rise from 1.94% to a maximum of 4.03%.