Wonik Holdings Co., Ltd. (KOSDAQ:A030530) made a tender offer to acquire additional 58.1% in Wonik IPS Co., Ltd. (KOSDAQ:A240810) from WONIK Co., LTD. (KOSDAQ:A032940), Wonik QnC Corporation (KOSDAQ:A074600), Yonghan Lee and Moonyong Lee for approximately KRW 550 billion on June 7, 2016. The offer is made to acquire additional 24 million shares in Wonik IPS for KRW 22,981 each by issuance of shares of Wonik Holdings. WONIK Co., LTD. will sell its 4.19 million shares, Wonik QnC will sell its 2.28 million shares, Yonghan Lee will sell approximately 2.82 million shares and Moonyong Lee will sell approximately 0.08 million shares in the offer.

The offer period will start from July 6, 2016 to July 25, 2016 and payment is expected to be made to shareholders on July 27, 2016. As of July 4, 2016, the number of shares issued has been amended to 83 million shares from earlier 74.9 million shares. As on July 26, 2016, the confirmed number of shares acquired in tender offer is 10.99 million shares, in exchange of which 38.01 million shares will be issued as consideration.

The forfeited shares will be deposited in cash to the subscribers' accounts on July 27, 2016. The deal is expected to close on July 27, 2016. NH Investment & Securities Co., Ltd. (Wonik IPS KOSE:A005940) acted as handler for the offer.