[Edaily Reporter Kim Hyung-il ] SJ Investment Holdings is launching a second tender offer to delist GOLFZON NEWDIN HOLDINGS Co., Ltd.(121440), the holding company of the GOLFZON Co., Ltd. This is part of the process to acquire the remaining shares—in addition to the stake secured through the previous tender offer—and make the company a wholly-owned subsidiary.
GOLFZON HOLDINGS CI. (Photo: GOLFZON HOLDINGS) According to the Financial Supervisory Service’s electronic disclosure system on the 10th, SJ Investment Holdings is offering a tender offer for 5,742,701 common shares of GOLFZON HOLDINGS (13.41% of the total issued shares) at 6,700 won per share. The tender offer period runs from today through the 2nd of next month, with the scheduled settlement date set for September 4.
SJ Investment Holdings currently holds 32,882,041 common shares of GOLFZON HOLDINGS (a 76.76% stake). If it secures the entire target volume through this tender offer, its holdings will increase to 38,624,742 shares, expanding its stake to 90.17%.
SJ Investment Holdings explained that, following this tender offer, it plans to delist GOLFZON HOLDINGS as quickly as possible in accordance with applicable laws and regulations, convert it into a privately held company, and subsequently incorporate it as a wholly-owned subsidiary.
SJ Investment Holdings is a subsidiary of One & Partners, which was founded by Kim Won-il, the eldest son of GOLFZON Co., Ltd. Chairman Kim Young-chan (GOLFZON Co., Ltd. founder) and former CEO of GOLFZON Co., Ltd.
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