S-1 launches 450 billion won tender offer, also plans to cancel existing treasury shares

[Financial News] S-1 is pursuing shareholder returns by making a tender offer for 450 billion won worth of its own shares and canceling all of the treasury shares it already holds.   S-1 announced on the 15th that it had decided to acquire 4,545,454 common shares through a tender offer. The expected purchase amount is approximately 450 billion won (449,999,946,000 won), and the tender offer price is 99,000 won per share.
The tender offer period runs from today through the 3rd of next month. Shinhan Investment & Securities is managing the offer. If the number of shares tendered is equal to or less than the planned amount, all of them will be purchased; if it exceeds the planned amount, shares will be purchased on a pro rata basis.
S-1 plans to cancel the newly acquired treasury shares within one year after the tender offer ends. It has not yet set a specific date for the cancellation and plans to disclose it once finalized.
S-1 also plans to cancel all 4,188,939 treasury shares it already holds next month. These shares represent about 11.02% of the company’s issued shares. The specific schedule will be finalized later following a resolution by the board of directors.
The number of shares slated for cancellation, including existing holdings and planned new purchases, is up to 8,734,393. However, the actual number of shares newly acquired and canceled may vary depending on the tender offer results.
S-1 plans to maintain its dividend payout ratio at around 50%–60% and raise its return on equity (ROE) to 13%–15%. It plans to use available resources for shareholder returns after excluding the cash needed to operate the business and funds for future growth investments.
S-1 said, “Through this tender offer, we aim to enhance shareholder value by acquiring shares held by shareholders as treasury shares and canceling them.”

[email protected] Han Young-jun Reporter