Wins Co: Tender Offer Buyback and Cancellation of 10% of Outstanding Shares

• On 4 November, Wins Co Ltd (136540 KS) announced a tender offer of 1,364,416 shares (10% of outstanding shares) at a tender offer price of 16,000 won per share.

• The tender offer period will last from 5 to 24 November. Once the tender offer buyback is completed, the company also plans to cancel the shares.

• The company is deeply undervalued with cheap valuation multiples. It has P/E of 7.2x and EV/EBITDA of 1.1x based on 2023 financials.