HBC New Technology Investment Association No. 1 completed the acquisition of a 26.2% stake in Charm Engineering Co.,Ltd. from In-han Kim and Gyu-dong Kim.
March 30, 2022
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HBC New Technology Investment Association No. 1 entered into a stock sale contract agreement to acquire a 26.2% stake in Charm Engineering Co.,Ltd. (KOSE:A009310) from In-han Kim and Gyu-dong Kim for KRW 53.5 billion on February 16, 2022. Under the terms, HBC New Technology will acquire 14,627,750 common shares for KRW 53.5 billion of which KRW 15 billion paid upon signing of the agreement and the remaining KRW 38.5 billion upon completion. As part of the transaction, HBC New Technology acquires 13,936,930 shares equals to 24.98% stake from In-han Kim and 690,820 shares equals to 1.24% stake in Charm Engineering from Gyu-dong. As a result, HBC New Technology will become the largest shareholder of Charm Engineering. The transaction is resolved by the board of Charm Engineering.
HBC New Technology Investment Association No. 1 completed the acquisition of a 26.2% stake in Charm Engineering Co.,Ltd. (KOSE:A009310) from In-han Kim and Gyu-dong Kim on March 30, 2022.
Charm Engineering Co Ltd is a Korea-based company engaged in the manufacture and sale of repair equipment that repairs defects in the display panel process. The Company operates its business through two segments. The Domestic Business segment is engaged in the manufacture and sale of display panel repair equipment. It is a repair equipment that repairs defects that occur during the manufacturing process of display panels such as liquid crystal displays (LCDs), organic light emitting diodes (OLEDs), quantum dot-organic light emitting diodes (QD-OLEDs) and micro light emitting diodes (LEDs) using precision optics, lasers and ink modules. The Overseas Business segment is engaged in the provision of parts and equipment maintenance services to overseas customers of repair equipment in Mainland China and Vietnam. In addition, the Company is engaged in the operation of saving banks.
HBC New Technology Investment Association No. 1 completed the acquisition of a 26.2% stake in Charm Engineering Co.,Ltd. from In-han Kim and Gyu-dong Kim.
CHARM ENGINEERING CO.,LTD. 