Added to YB: 2026-08-28
Pitch date: 2026-08-26
121440.KQ [neutral]
GOLFZON HOLDINGS Co., Ltd.
-0.39%
current return
Author Info
Raper Capital has 20+ years of buy- and sell-side experience in a variety of roles, and currently manage my single family office, Raper Capital Sign up for the newsletter.
Company Info
GOLFZON HOLDINGS Co., Ltd., through its subsidiaries, engages in the golf, sports, health, and lifestyle businesses in South Korea and internationally.
Market Cap
KRW 292.4B
Pitch Price
KRW 7.6K
Price Target
N/A
Dividend
N/A
EV/EBITDA
9.60
P/E
17.13
EV/Sales
1.30
Sector
Distributors
Category
special_situation
An Open Letter to the Board of Directors of Golfzon Holdings (English)
121440.KQ (hold): Continue holding Golfzon Holdings and reject the majority shareholder’s KRW6,700 tender: the price is 34.7% of H1 2026 book value and 21.5% of calculated adjusted NAV of about KRW31,100 per share. A reported roughly KRW2tn enterprise-value sale process for Golfzon County, in which the company has a 31.58% effective interest, was excluded from the adviser’s valuation. Conflicted oversight and no fresh review of the second offer reinforce the objection; if a squeeze-out or share exchange follows, seek Korean-court valuation and pursue available legal claims.
Read full article (11 min)