After a Japan-affiliated investment group announced an advance notice of a tender offer for JYP Entertainment, questions emerged over its ability to raise the acquisition funds and the identity of the bidder. The share price surged after the public notice, and possible illicit trading involving false information is also being discussed.
On the 26th, a Japan-affiliated investment group, Nexlock Group and its affiliate SVCV said they would pursue a plan to launch a tender offer for 25–50% of JYP Entertainment's shares. They reportedly set the target launch date for the tender offer as the 20th of next month and are considering a plan to add a 30% premium to the reference share price.
However, questions have arisen over their ability to raise the several hundred billion won required for the tender offer and the identity of the bidder. A private securities offering statement filed with the U.S. SEC by a Nexlock-affiliated entity says that $50 million of securities were sold, while listing 0 investors.
Nexlock describes itself on its website as having been established in February this year, while its SEC filings contain inconsistent statements giving its year of establishment as 2024 and 2025. No public documents currently substantiate a track record of acquisitions or concrete evidence of financing, raising questions about the advance disclosure of the tender-offer timetable and premium.
JYP has not confirmed that it received a tender-offer proposal. After the advance notice of the tender offer was reported on the 26th, JYP shares briefly surged in the afternoon session on NextTrade, but volatility increased as the shares plunged on the 27th. The Financial Supervisory Service described the announcement before the tender-offer filing as unusual and said it would thoroughly investigate possible abnormal trading and regulatory violations.