Photo courtesy of Douzone Bizon

 

 

[Alpha Biz= Kim Jisun] Douzone Bizon (KRX: 012510), a leading provider of enterprise resource planning (ERP) solutions in Korea, clarified on June 25 that there is no confirmed decision regarding the sale of shares held by its Chairman Kim Yong-woo, despite recent media reports suggesting otherwise.



"The major shareholder has received proposals from potential investors, but nothing has been finalized at this stage," the company stated in a regulatory filing.



Earlier in the day, a local media outlet reported that Chairman Kim was exploring the possibility of selling all or part of his 21.51% stake in the company to a global private equity firm, raising speculation about a potential transfer of management control.



Douzone Bizon firmly denied the speculation, stating that no specific plan or decision had been made. The company added that any material developments would be disclosed in accordance with regulatory requirements.



Industry sources noted that ongoing discussions involving the potential sale of a 9.88% stake held by Shinhan Value-Up No.1 Private Equity Fund may have led some investors to express interest in acquiring a portion of Chairman Kim’s shares. This, they say, could have contributed to the misunderstanding that a management rights transfer was underway.

 

 

 

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