iFamilySC shares were briefly bought up to the daily upper price limit following news that Marubeni, a major Japanese trading company, aims to acquire up to a 28% stake in iFamilySC through a tender offer. The tender offer price is KRW 12,000 per share, with funding totaling approximately KRW 56 billion at most.
iFamilySC, the KOSDAQ-listed Korean company behind the cosmetics brand rom&nd, announced that Japan’s Marubeni plans to acquire a stake in the company through a tender offer. The offer price is KRW 12,000 per share, approximately 42.5% above the previous day’s closing price. The tender offer covers 3,336,277 shares, representing 20%, and may extend to up to 28%. The offer period runs from the 23rd through 11 November, with settlement scheduled for 13 November.
If the tender offer is completed, Marubeni is expected to become a major shareholder of iFamilySC, while Co-CEO Kim Tae-wook is expected to retain his position as the largest shareholder. Kim Tae-wook and Kim Seong-hyeon do not plan to tender their shares, and their respective stakes are expected to be 28.4% and 14%.