Jiangsu Rothwell Electric, a KOSDAQ-listed company, hit the upper price limit early on the 12th on news that it is pushing a tender offer for delisting.
As of 9:51 a.m. that day, Jiangsu Rothwell Electric was trading on the KOSDAQ market at 1,296 won, up 299 won (29.99%) from the previous day.
Jiangsu Rothwell Electric disclosed that day that, for a voluntary delisting, its largest shareholder Trillion Lux Group will carry out a tender offer. The tender offer targets 24,147,451 shares, equivalent to 52.5% of the total number of shares issued.
The tender offer price is 1,580 won per share, about 58% higher than the previous day's closing price. The tender offer period runs from that day through Feb. 9.
※ This article has been translated by AI. Share your feedback here.