The share price of JKN Global Group Public Company Limited (SET: JKN) went on a two-day rally since the announcement of the takeover of Miss Universe Organization, which would grant the company the right to operate and broadcast the pageant.
JKN closed Thursday with a 25.56% gain at THB5.60 per share. The share price rose 47% in a span of only two days as investors had been speculative with continuous buying volume after the company’s acquisition of Miss Universe Organization from IMG Worldwide, LLC (a subsidiary) of Endeavor Group Holdings, Inc. holding 100% of the shares with the copyright of Miss Universe.
The aggregate transaction value was USD14,000,000 or THB 550 million baht and a license agreement of USD6,000,000 or 250 million baht. The transaction aggregate value is USD20,000,000, which is equivalent to up to THB800,000,000, which is working capital in the business.
The company has fully paid according to the payment term under the share sale and purchase agreement on October 25, 2022.
The acquisition of Miss Universe Organization will result in the company owning all shares in 5 LLC entities incorporated under the laws of Delaware, USA consisting of (1) IMG Universe, LLC (2) IMG Universe FranchCo, LLC, (3) Miss USA BR Productions, LLC, (4) MUO Productions, LLC and (5) Miss USA Productions OH, LLC.
Under these five entities, the company will acquire the copyright to the Miss Universe pageant, including publishing, and other supporting businesses.
