The surge in Viol, which is seeking a voluntary delisting, has stopped. After hitting the upper price limit for three straight sessions, it appears that some investors took profits.
As of 9:11 a.m. on the 24th, Viol was trading at 23,450 won, down 3,700 won (13.63%) from the previous session.
VIG Partners, a domestic private equity fund (PEF) manager, is pursuing Viol's voluntary delisting. For the voluntary delisting, it conducted a tender offer from Jun. 18 to Jul. 7 and secured about 85% equity, and has since continued to buy the remaining shares on the open market.
VIG Partners offered a tender offer price of 12,500 won for Viol, but as buying poured in, Viol's share price hit the upper price limit for three straight days starting on the 19th, rising sharply from the 12,000-won range to the 27,000-won range. However, with the share price surging sharply in a short period, some profit-taking emerged, and the stock appears to have fallen significantly on the day.