DoubleUGames Co., Ltd. Tender offer to acquire DoubleDown Interactive shares for KRW 356.1 billion
DAI summary · Not investment advice
The company will acquire up to 816,481 shares of subsidiary DoubleDown Interactive via tender offer for KRW 356.1 billion, reaching 100% ownership.
Acquisition amount
KRW 356.1 billion
21.55% of equity; USD 265,356,325 converted at KRW 1,342.00 per USD
Key facts
- Counterparty
- Shareholders tendering in the tender offer
- Purpose of transaction
- Strengthen business competitiveness and management efficiency by making key subsidiary DoubleDown Interactive a wholly owned subsidiary
- Issuer
- DoubleDown Interactive Co., Ltd.Subsidiary · South Korea
- Stake after transaction
- 100.00%2,477,672 shares held; may change depending on the result of the tender offer
- % of equity
- 21.55%Consolidated, as of December 31, 2025
- Payment terms
- Cash payment after tender offer period ends and acceptance; funded by own funds and borrowings
- External valuation opinion
- The reference market price per share is USD 13.60, and the per-share value with a tender offer premium applied ranges from USD 14.61 to USD 17.72. No basis was found to judge the purchase price of USD 16.25 per share inappropriate in terms of materiality.Samdo Accounting Corporation
- Board resolution date
- Nov 9, 2026
Commentary
AI commentary · Not investment advice
What happened
DoubleUGames Co., Ltd. decided to buy up to 816,481 shares of its subsidiary DoubleDown Interactive Co., Ltd. through a tender offer. A tender offer is a public offer to buy shares from shareholders who choose to apply. The counterparties are the shareholders who respond to the offer. The purchase amount is KRW 356.1 billion. The share count assumes the maximum that can be bought, so the actual number and amount may change with the result of the offer. The company will pay in cash, funded by its own cash and borrowings. After the deal, its stake in DoubleDown Interactive would be 100.00%, making it a wholly owned subsidiary. The company says the aim is to strengthen business competitiveness and improve management efficiency.
In the company's terms
The purchase amount equals 21.55% of the company's equity (the company's own net funds). It also equals 19.27% of total assets.
What changes for shareholders
The scheduled transfer date is December 21, 2026. Payment will be made after the tender offer period ends and the company accepts the shares offered. The offer is conditional on securing at least 95.00% of the issued shares when tendered shares and the company's existing holding are combined. If the condition is not met, the company will not buy any of the tendered shares. The company currently holds 67.05% of DoubleDown Interactive's common shares. After the offer, it plans to acquire the remaining shares, for example through a share exchange, to make the firm a wholly owned subsidiary.
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