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KISCO Corp. Tender Offer Statement

KISCO Corp.
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AI summary · Not investment advice

KISCO Holdings Corp. launched a tender offer to delist KISCO Corp., seeking up to 8.59 million shares (23.57%) at KRW 13,000 each, 24.6% above the prior close, open until November 23.

Tender offer price per share

KRW 13,000

24.6% premium to the previous trading day's close

Key facts

Tender offeror
KISCO Holdings Corp.
Target company
KISCO Corp.
Relationship with target
Largest shareholder or officer of the target company
Purpose of tender offer
Delisting: to make KISCO Corp. a wholly owned subsidiary by acquiring additional common shares through the tender offer, alongside a comprehensive share exchange
Shares sought
8,592,668 shares23.57% of total issued shares
Minimum condition
All tendered shares will be purchased regardless of the subscription rate
Payment method
Cash payment
Tender offer period
Nov 2, 2026 – Nov 23, 2026
Settlement date
Nov 25, 2026
Reference closing price per share
KRW 10,430Close on the previous trading day (2026.10.30)
Premium to reference price
24.6%
Stake before tender offer
60.34%Based on total issued shares; 66.17% including related parties
Stake after tender offer
83.91%Based on total issued shares; 100.0% excluding treasury shares
Total tender offer amount
KRW 111.7 billionAssumes purchase of the maximum 8,592,668 shares
Own funds
KRW 25.0 billion
Borrowings
KRW 86.7 billion

Commentary

AI commentary · Not investment advice

What happened

KISCO Holdings Corp., the largest shareholder of KISCO Corp., launched a tender offer, an offer to purchase shares from all shareholders at a set price for a set period. It offers KRW 13,000 per share for up to 8,592,668 shares. The goal is to make KISCO Corp. a wholly owned subsidiary and delist it.

In the company's terms

KISCO Holdings currently holds 60.34% of the issued shares. If the offer is fully taken up, its stake would reach 83.91%, or 100.0% excluding treasury shares (the company's own shares it holds). The price is 24.6% above the previous trading day's close of KRW 10,430. Of the KRW 111.7 billion needed, KRW 25.0 billion comes from its own funds and KRW 86.7 billion was borrowed from a brokerage.

What changes for shareholders

Shareholders can tender until November 23, and cash payment is made on November 25. All tendered shares will be purchased regardless of the total. KISCO Holdings then plans a share exchange to take over the remaining shares. If completed as planned, KISCO Corp. shares will be delisted and no longer trade on the exchange.

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