Shinsegae Construction Pursues Voluntary Delisting... "Accelerating Management Normalization"

Shinsegae Construction, which is undergoing high-intensity restructuring, is pushing for a voluntary delisting. This is to simplify the governance structure, swiftly reorganize the business, and accelerate management normalization.

According to the distribution industry on the 29th, Emart will conduct a public tender offer for 2,120,661 registered common shares of Shinsegae Construction, a KOSPI-listed company, from the 30th of this month to the 29th of next month, for a period of 30 days. This represents 27.33% of the total issued shares.

Emart plans to purchase all remaining shares except for the 5,468,461 common shares (70.46%) it currently holds and the 171,432 treasury shares (2.21%) of Shinsegae Construction.

For a KOSPI-listed company to voluntarily delist, the major shareholder must secure more than 95% of the shares excluding treasury shares.

The purpose of this tender offer is known to be to simplify the governance structure, establish an efficient decision-making system, swiftly reorganize the business structure, and promote management normalization.

It also aims to protect investors holding Shinsegae Construction shares and to practice responsible management as the largest shareholder.

This content was produced with the assistance of AI translation services.