Jiangsu Rothwell Electric said on the 12th that its largest shareholder, Trillion Luck Group, will conduct a tender offer for a voluntary delisting.
Trillion Luck Group will carry out a tender offer for 24,147,451 shares of Jiangsu Rothwell Electric. That is 52.5% of the total number of issued shares.
The tender offer period runs from today through Jan. 9 next year. The purchase price is 1,580 won per share, 58.4% higher than the current share price (997 won).
The equity held by the tender offeror and persons in a special relationship currently stands at 47.5%. Upon completion of the tender offer, they will secure all issued shares. The tender offer manager is LS Securities.
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