CNPLUS Co., Ltd. cancelled the acquisition of 51.8% stake in INS LED Co., Ltd. from Oh, Minsoo, Kim, Juhyun and Chief Executive Officer Cho, Juhee.
January 02, 2019
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CNPLUS Co., Ltd. (KOSDAQ:A115530) agreed to acquire 51.8% stake in INS LED Co., Ltd. from Oh, Minsoo, Kim, Juhyun and Chief Executive Officer Cho, Juhee for KRW 9.8 billion on December 31, 2018. The consideration shall be paid through issuance of 6th round coupon unguaranteed private convertible bonds of CNPLUS. Under the transaction, CNPLUS shall acquire 0.46 million shares of INS LED. Osung Accounting Corporation acted as external rating institution.
CNPLUS Co., Ltd. (KOSDAQ:A115530) cancelled the acquisition of 51.8% stake in INS LED Co., Ltd. from Oh, Minsoo, Kim, Juhyun and Chief Executive Officer Cho, Juhee on January 2, 2019.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
