HDC HOLDINGS CO.,Ltd (KOSE:A012630) made an offer to acquire additional 30% stake in Hyundai Development Company (KOSE:A294870) for approximately KRW 830 billion on August 2, 2018. Consideration will be paid through new shares of HDC HOLDINGS. HDC HOLDINGS will acquire 13.18 million shares as part of the deal at a ratio of 1 : 2.3943846 shares; and will increase its stake in Hyundai Development from 7.03% to 37.03% stake.

As on August 28, 2018, the terms of the transaction were changed and the revised ratio is 1 : 2.4809506 shares. The offer will run from August 30, 2018 to September 18, 2018. Korea Investment & Securities Co., Ltd. acted as service handling person.