As Align Partners, an activist fund, is conducting a tender offer for A+ Asset, Chair Gwak Geun-ho, the largest shareholder, increased equity through an open-market purchase.
According to the Financial Supervisory Service's electronic disclosure system on the 27th, Gwak bought 30,904 common shares on the open market over three trading days from the 21st to the 26th. By date, it was 1,400 shares on the 21st (average price 7,944 won), 162 shares on the 25th (7,990 won), and 29,342 shares on the 26th (7,970 won).
With this purchase, Gwak's equity stake rose 0.14 percentage point to 20.20% (4,566,500 shares) from 20.06% (4,535,596 shares) in the previous report. As a result, the combined equity stake of the largest shareholders and related parties, including Gwak, also increased to 30.33% from 30.19%.
Executive director Lee Seong-han also bought 3,800 shares on the open market at 7,999 won per share, newly acquiring 0.02% equity. These stock purchases by the largest shareholder and an executive took place while Align Partners was conducting a tender offer for A+ Asset (Nov. 18–Dec. 7).
Align Partners said A+ Asset is undervalued and announced a tender offer to secure 19.91% equity at 8,000 won per share to enhance shareholder value.