Hahn & Co. Rules Out Delisting for One Year
Private equity fund manager Hahn & Company has unveiled strong self-imposed measures to block controversy over allegations that SK D&D’s large-scale capital increase is laying the groundwork for a voluntary delisting. The firm is formally taking the position that it will not only refrain from pursui
Private equity firm Hahn & Company has declared it will not attempt to delist SK D&D for a minimum of one year. In response to market doubts, Hahn & Co. has announced it will abstain from pursuing a delisting via a tender offer for the next year, as well as from acquiring additional shares through on-market purchases or block deals.
This stance comes after SK D&D submitted a revised securities registration statement connected to its 136.7 billion won shareholder-allotted capital increase on Aug. 10. Hahn & Co., the largest shareholder, has committed to refraining from artificially increasing its stake or engaging in delisting procedures over the coming year.
The investment firm's decision effectively closes all avenues through which it could bolster its ownership position. They have also stated that SK D&D has no intention to acquire or retire treasury shares, thereby preventing a reduction in the stake held by general shareholders. The company has provided additional clarifications to address investor concerns about governance during the capital increase process and aims to bolster investor confidence.
The move is seen as a demonstration of Hahn & Company's commitment to communicating with the market by explicitly ruling out various possibilities related to stake expansion. The capital increase is viewed as a way to improve the company's financial structure and lay the groundwork for enhancing long-term corporate value.
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