Finetek Co., Ltd. agreed to acquire 83.8% stake in Sekwang Technologies Co., Ltd. for KRW 16.75 billion.
August 02, 2016
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Finetek Co., Ltd. (KOSDAQ:A131760) agreed to acquire 83.77% stake in Sekwang Technologies Co., Ltd. from Sung-Min Kim and Dong-Woo Kim for KRW 16.75 billion on August 3, 2016. As per the agreement Finetek Co. will acquire 3.969892 million shares and 1.166592 million shares in Sekwang Technologies from Sung-Min Kim and Dong-Woo Kim respectively. A deposit of KRW 3615.785 million in cash was paid on August 3, 2016 and remaining will be paid in cash on August 22, 2016. AS of December 31, 2016, Sekwang Technologies Co reported total assets of KRW 27.76 billion, shareholder’s equity of KRW 3.5 billion, sales of KRW 16.02 billion and net profit of KRW -2.97 billion. The transaction will close on August 22, 2016.
FINETEK CO., LTD. is a Korea-based company principally engaged in engaged in the manufacture and distribution of display components. The Company mainly manufactures display components including black light units (BLUs) which are used in smart phones, tablet personal computers, navigations and other digital products. The Company also produces touch screen panels (TSPs) which are touch screen modules used in mobile devices, and liquid crystal display (LCD) modules (LCMs) and TSP sensors. The Company manufactures and distributes its products in domestic and overseas markets.
FINETEK CO., LTD. 