CNPLUS Co., Ltd. cancelled the sale of 30.1% stake in COCN Co., Ltd.
October 31, 2014 at 09:30 am IST
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CNPLUS Co., Ltd. (KOSE:A115530) agreed to sell 30.1% stake in COCN Co., Ltd. for KRW 850 million on October 31, 2013. CNPLUS Co., Ltd. will sell 0.301 million shares and will reduce its holding to 0.099 million shares in COCN Co., Ltd. Board of Directors of CNPLUS Co., Ltd. made a resolution in favor of the transaction on October 31, 2013. The schedule date of sale is November 4, 2013.
CNPLUS Co., Ltd. (KOSE:A115530) cancelled the sale of 30.1% stake in COCN Co., Ltd. on October 31, 2014.
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. 
