Liveplex Co.,Ltd. acquired an additional 9.08% stake in CTGen Co.,Ltd. from Byung Jin Kim for KRW 4.2 billion.
October 18, 2018
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Liveplex Co.,Ltd. (KOSDAQ:A050120) acquired an additional 9.08% stake in CTGen Co.,Ltd. (KOSDAQ:A036170) from Byung Jin Kim for KRW 4.2 billion on October 18, 2018. A total of 2.38 million shares were acquired as part of the deal. A sum of KRW 4.22 billion will be paid on October 18, 2018 and Byung Jin Kim will transfer 1 million shares to Liveplex on that date. Balance KRW 5.84 billion will be paid on October 19, 2018 after which Byung Jin Kim will transfer 1.38 million shares to Liveplex. Stake of Liveplex will increase from 5.02% stake to 14.11% stake and Byung Jin Kim will hold no stake in CTGen after the completion of transaction. Liveplex Co.,Ltd. financed the consideration from its own funds. The transaction was resolved by the Board of Directors of Liveplex Co., Ltd at the meeting held on October 18, 2018. The transaction is expected to close on October 19, 2018.
Liveplex Co.,Ltd. (KOSDAQ:A050120) completed the acquisition of an additional 9.08% stake in CTGen Co.,Ltd. (KOSDAQ:A036170) from Byung Jin Kim on October 18, 2018.
Cloud Air Co Ltd, formerly Livefinancial Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of light emitting diode (LED). The Company operates its business through three segments. The LED Business segment produces LED used for automobiles and lighting. It also engages in the business of real estate rental. The Investment Advisory Business segment provides services related to management consulting. The Fintech Business segment engages in fintech platform and service related business.