Reporter Jeong Hye-yoon of Money Today | 2023.02.24 20:11
The tender offer by the private equity fund (PEF) management company MBK Partners-Unison Capital Korea (UCK) consortium to acquire the management right of Osstem Implant has been completed. As it is known that the UCK consortium secured around 90% of Osstem Implant’s shares through the tender offer, discussions on delisting are expected to begin in earnest in the future.
According to industry sources on the 24th, NH Investment & Securities, the UCK consortium’s tender offer agency, closed the tender offer at 3:30 pm on the same day.
Previously, the UCK consortium established Dentistry Investment to acquire Osstem Implant and announced that it would take a tender offer of 15.4 to 71.8% of the total number of potential outstanding shares at KRW 190,000 per share.
It is known that the stake secured by the UCK consortium through the tender offer exceeds the minimum target of 15.4% of the total number of potential shares to be issued and is close to the maximum target of 71.8%.
The stake that the UCK consortium will finally secure is expected to be around 90%, including 18.9% stake for Chairman Choi Kyu-ok and related parties.
As the tender offer succeeds, there is interest in whether the UCK consortium will voluntarily pursue liquidation. If the UCK consortium acquires all 11,177,003 shares, the maximum number of shares planned for purchase, through this tender offer, Osstem Implant can be voluntarily liquidated. In the case of KOSDAQ companies, there are no special regulations on voluntary liquidation, so it can be done if the largest shareholder usually holds a 90% stake.
Meanwhile, on the last day of the tender offer, the stock price of Osstem Implant closed at 176,300 won, down 4,500 won (-2.49%) from the previous trading day. It fell below the tender offer price of 190,000 won.
[저작권자 @머니투데이, 무단전재 및 재배포 금지]
