Tender offer lifts South Korea's Sammok S-Form shares about 22%

Sammok S-Form is surging more than 22% early on the 18th.

As of 9:17 a.m. on the 18th, Sammok S-Form on the KOSDAQ market is trading at 21,700 won, up 4,300 won (24.71%) from the previous session.

S-Form, the largest shareholder of Sammok S-Form, recently said it will launch a tender offer for up to 1.2 million shares of Sammok S-Form from the 18th through June 8. S-Form said it is conducting the tender offer to stabilize management and strengthen control of Sammok S-Form. The tender offer price is 22,800 won per share.

Sammok S-Form is a construction formwork specialist founded in 1985. It manufactures aluminum forms and panel forms and sells and leases them to apartment construction sites.