S-Form, the largest shareholder of KOSDAQ-listed Sammok S-Form, will conduct a tender offer for 8.16% of Sammok S-Form equity. The purpose is to stabilize management control by expanding equity. The tender offer price is 22,800 won per share.
S-Form disclosed that from the 18th to the 8th of next month, it decided to tender for up to 1.2 million shares (8.16%) of Sammok S-Form. S-Form currently holds 69.47% of Sammok S-Form equity, and once the tender offer is completed, the equity is expected to expand to 77.63%.
On the 15th, Sammok S-Form's closing price was 17,400 won. Since the tender offer plan was announced, Sammok S-Form's share price has been surging in the premarket.
S-Form said, "While strengthening responsible management as the largest shareholder, we aim to establish a swift and efficient decision-making system to enhance business competitiveness."
Sammok S-Form, which produces aluminum forms, gang forms, system forms, and special forms, is a construction formwork specialist that manufactures and leases products. Annual sales reach 400 billion won, but profits have recently fallen sharply as the construction market has deteriorated. Net profit exceeded 100 billion won in 2023, but fell to around 10 billion won last year.