IMM PE increases Hanssem stake through tender offer

• Published date: 02 March 2023
• Publication title: The Korea Times

IMM Private Equity (PE) launched a tender offer Thursday to purchase an additional 7.7 percent stake in Hanssem, or 1.81 million shares, aiming to increase its stake in the home furnishing company to 36 percent from the current 28.2 percent.

According to the electronic disclosure system DART on Thursday, investors of Hanssem have until March 21 to decide whether to respond to the tender offer at the price of 55,000 won per share.

With the announcement, Hanssem's stock price soared to 53,700 won at Thursday's closing, jumping 19.73 percent from 44,850 won the previous session.

If the tender offer succeeds, IMM PE's control over Hanssem will increase to a 36 percent stake, as its two blind funds, Haim Limited Company and Haim No.2 Limited Company, will acquire 1.03 million and 780,000 Hanssem shares, respectively.

The PE firm was previously expected to increase its stake in Hanssem by purchasing the furniture company's...