Hot-Tech Co., Ltd. (KOSE:A015540) agreed to sell 0.35% stake in New Pride Corporation (KOSDAQ:A900100) for approximately KRW 530 million on November 10, 2016. Under the acquisition, Hot-Tech Co., Ltd. will sell 0.15 million shares and will hold no shares in New Pride Corporation after the sale. The purpose of the sale is to secure liquidity.

The transaction was resolved by the Board of Directors of Hot-Tech Co., Ltd. on November 10, 2016. The sale is scheduled to close on November 10, 2016.