South Korean chicken burger chain Mom’s Touch is searching for a new owner following its delisting from the nation’s second bourse Kosdaq on Tuesday.

Its largest shareholder, local private equity firm Korea F&B Holdings, plans to buy shares at 62,000 won apiece for the next six months in order to protect minority shareholders.

Following its delisting, industry watchers say sell-off talks are also expected to gain momentum.

“Listed companies have legal obligations such as disclosure of financial statements and information to the public, which sometimes delay sell-off talks,” said Kim Dae-jong, a professor of business administration at Sejong University.

Mom’s Touch’s corporate value is estimated at around 1 trillion won ($804 million), almost three times the amount Korea F&B Holdings invested back in 2019 to acquire the company.

The burger chain, which was listed on Kosdaq six years ago, has seen stellar growth. In 2020, profits surged 35.8 percent to 26. 3 billion won from a year ago. In the following year, the figures jumped more than 50 percent to 39.5 billion won.

As of the first quarter this year, there are a total of 1,352 chain stores nationwide -- the largest among franchise rivals, including Lotteria and McDonald’s. It also operates 13 stores in Taiwan, Singapore and the US.

Despite its relentless expansion in recent years, sources say it could take some time for it find a new buyer as its crosstown rival, Burger King Korea whose largest shareholder is Hong Kong-based Affinity Equity Partners, has also been put up for sale recently.