Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Douzone Bizon (012510 KS): EQT Reloads & Seeks Delisting

EQT Partners Acquires a Controlling Stake in Douzone Bizon

EQT Partners - To Acquire a Controlling Stake In Douzone Bizon & A Tender Offer of Minority Shares?

Douzone Bizon: A Strong Turnaround Story in the Korean Software Industry

Douzone Bizon Situation: TOB Setup Looks Weak; Risks Remain, but Still a Tactical Angle in Play

Douglas Research Advisory

Event-Driven

<ul>
<li>This insight provides details of the tender offer for Douzone Bizon by EQT Partners for US$1.5 billion. Target shares for the tender offer are about 57.7% of outstanding shares.</li>
<li>Tender offer price is 120,000 won which is same as the as the acquisition price by EQT for a 34.9% stake in Douzone Bizon in November 2025.</li>
<li>We estimate that post this tender offer, EQT's stake in Douzone Bizon could rise to about 55%-75%, but not enough for a full delisting this time around.</li>
</ul>


This insight provides details of the tender offer for Douzone Bizon by EQT Partners for US$1.5 billion. Target shares for the tender offer are about 57.7% of outstanding shares.
Tender offer price is 120,000 won which is same as the as the acquisition price by EQT for a 34.9% stake in Douzone Bizon in November 2025.
We estimate that post this tender offer, EQT's stake in Douzone Bizon could rise to about 55%-75%, but not enough for a full delisting this time around.


두존 비존의 발행 주식 57.7%에 대한 15억 달러 규모의 공개 매수 제안