Bid to acquire up to 50% of JYP? ... JYP: “We have received no offer”

[Financial News] The NEXROC Group, which describes itself as a Japan-affiliated investment group, and its affiliate SVCV said they would seek to acquire up to a 50% stake in JYP Entertainment as early as next month. On the news, JYP Entertainment shares surged 14.38% in after-hours trading from their closing price. JYP Entertainment said it had not received any proposal related to the acquisition.
JYP Entertainment said late on the 26th, “We have not received any proposal regarding the acquisition of a stake in our company in connection with the matter reported today.”
According to Yonhap News that day, The NEXROC Group (The NEXROC Group) and SVCV (SVCV, Inc.) said in an afternoon press release, “We are pursuing the acquisition of a stake in JYP,” adding, “We plan to launch a tender offer as early as this coming November, targeting 25–50% of JYP’s issued shares.”
They added, “We are considering setting the tender offer price at a level that includes a 30% premium over the reference share price,” and “Details, including how the reference share price will be calculated and the final purchase price, will be finalized at a later date.”
The NEXROC is a company that describes itself as a global investment and holding group. On its own website, it describes SVCV as an affiliate responsible for the group’s fashion and luxury business.
[email protected] Shin Jin-a Reporter