[News Space=Reporter seungwon lee] CJ's stock price soared in the afternoon of the 14th. This is due to news that CJ Olive Young is acquiring shares held by financial investors (FIs) early after one year.

CJ stocks closed at 127,800 won on the 14th, up 16.93% (18,500 won) from the previous day. The intraday price even jumped to 134,400 won.

According to the industry, it has been confirmed that CJ Olive Young is pursuing the early acquisition of 11.28% of its stock held by Korea Beauty Pioneer, thereby increasing its stake to 22.58%.

Korea Beauty Pioneer is a special purpose corporation (SPC) established by Shinhan Investment Securities and Shinhan Bank. Last March, half of the shares in CJ Olive Young held by private equity fund management company Glenwood Private Equity (PE) were acquired as treasury stocks, and the remaining half were acquired by Korea Beauty Pioneer.

Currently, CJ owns 51.15% of CJ Olive Young, treasury stocks 11.29%, CJ CheilJedang Food Growth Promotion Office Director Lee Seon-ho owns 11.04%, and CJ ENM Brand Strategy Office Director Lee Kyung-hoo owns 4.21%, making a total of 88.11% owned by related parties. If CJ Olive Young buys back the 11.29%, the related parties’ stake will approach 100%, further strengthening their control.

According to the shareholders' meeting convocation notice recently disclosed by CJ, CJ Olive Young's sales last year were KRW 4.7899 trillion, a 24% (KRW 921.7 billion) increase from the previous year.

A CJ Olive Young official said, "We have decided to use the call option to purchase the Olive Young shares held by Korea Beauty Pioneer within three years, within one year," and "We have decided to acquire treasury stocks, and the acquisition price will be determined through a future board meeting."