Ildong Holdings Co., Ltd. (KOSE:A000230) made a tender offer to acquire an additional 29.14% stake in Ildong Pharmaceutical Co., Ltd. (KOSE:A249420) for KRW 98.9 billion on February 6, 2017. Ildong Holdings will acquire an additional 5.2 million shares by issuing 4.6 million shares. On completion, Ildong Holdings will own 5.79 million shares, representing 32.46% stake in Ildong Pharmaceutical.

The offer will run from March 9, 2017 to March 28, 2017. As of March 7, 2017, Ildong Holdings will now issue 4.95 million shares at a price of KRW 20,008 per share. NH Investment & Securities Co., Ltd. acted as service handling entity in the offer.