TKG Aikang shares reached the KOSDAQ market’s daily upper limit after largest shareholder TKG Taekwang announced a second tender offer aimed at voluntarily delisting the piping and fire-protection-products manufacturer. The stock traded at 780 Korean won on the morning of the 31st, up 180 won, or 30%, from the previous session’s close of 600 won. TKG Taekwang will offer 900 won per share for 16,076,041 shares, equivalent to 31.04% of TKG Aikang’s outstanding shares, during a tender period running from the 31st through the 19th of next month. The offer price is 50% above the previous close and about 15.4% above the latest upper-limit price. TKG Taekwang’s identical March tender offer bought all shares submitted and increased its stake from 47.53% to 68.96%. The shareholder plans to acquire additional shares and complete the delisting, citing the construction downturn and the need for faster decisions and more efficient capital allocation. TKG Aikang was designated an administrative issue on the KOSDAQ on the 13th after its share price fell below 1,000 won, a condition that can lead to delisting grounds if not resolved within the designated period. Market observers said the latest offer is highly likely to be the final step, while analysts cautioned that oversubscription could result in proportional allocation.