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Mega Study, Korea’s largest online education service provider, said Friday its largest shareholders have dropped a plan to sell their stake because the offer from potential buyers failed to meet their expectations

Mega Study owners drop plan to sell stake

2014.06.20 16:57:42

Mega Study, Korea’s largest online education service provider, said Friday its largest shareholders have dropped a plan to sell their stake because the offer from potential buyers failed to meet their expectations. 
In the regulatory filing, the company said its largest shareholders had reviewed a strategic alternative, including a stake sale, to attract external investment, but the offer made to date did not meet expectations.
As of the end of last year, Sohn Ju-eun, the founder of Mega Study, and other investors related to him owns a 23.35 percent stake and Korea Education Holdings own 9.21 percent.
The KOSDAQ-listed company posted 316.8 billion won ($304.6 million) in sales last year, with an operating profit of 50.2 billion won and a net profit of 41.2 billion won.

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About bambooinnovator
KB Kee is the Managing Editor of the Moat Report Asia (www.moatreport.com), a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia; subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities, some of the world’s biggest secretive global hedge fund giants, and savvy private individual investors who are lifelong learners in the art of value investing. KB has been rooted in the principles of value investing for over a decade as an analyst in Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, value investing, macroeconomic and industry trends, and detecting accounting frauds in Singapore, HK and China. KB was a faculty (accounting) at SMU teaching accounting courses. KB is currently the Chief Investment Officer at an ASX-listed investment holdings company since September 2015, helping to manage the listed Asian equities investments in the Hidden Champions Fund. Disclaimer: This article is for discussion purposes only and does not constitute an offer, recommendation or solicitation to buy or sell any investments, securities, futures or options. All articles in the website reflect the personal opinions of the writer.

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