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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hahn & Company acquired an additional 6% of Lutronic shares through an open purchase, with its total stake exceeding 90%. As a result, investors are paying keen attention to the possibility of delisting Lutronic.
According to the investment banking (IB) industry on the 10th, 1,640,311 shares applied for the Lutronic 2 public purchase conducted by Hahn & Company from the 17th of last month to the 8th of this month. Initially, Hahn & Company bought all 3,735,471 remaining shares in the market and announced its plan to delist them, but only about 44% participated. The public purchase was led by NH Investment & Securities following the first round.
After acquiring a 19.23 percent stake in Lutronic Chairman Hwang Hae-ryeong, who was the existing largest shareholder, in June, Hahn & Company acquired 63.89 percent more shares through its first public purchase that ended last month. Including the shares collected from the second public purchase, the company has secured a total of 90.17% of Lutronic shares. Including the treasury stocks held by Lutronic, the largest shareholder has a total stake of 93%.
The investment industry is paying attention to whether Hahn & Company will actually apply for delisting on the exchange. In the case of KOSDAQ-listed companies, it is usually believed that if the largest shareholder secures a 90% or more stake, it meets the delisting requirement. Once the stake is secured, the largest shareholder will apply for delisting on the exchange, and the exchange will hold a corporate review committee meeting within a month to decide. Osstem Implants, which were previously publicly purchased twice in January and March this year, are also set to be delisted on the 11th after such procedures.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
