Bubang Co., Ltd. (KOSDAQ:A014470) signed an agreement to acquire remaining 54.18% stake in Cuchen Co., Ltd. (KOSDAQ:A225650) for KRW 9.7 billion on June 14, 2019. Under the terms of the transaction, Bubang will issue its 1 share for 2.20782 shares of Cuchen. On completion, Cuchen will become a non-listed subsidiary of Bubang.

Transaction was resolved by the Board of Directors of Bubang. As of July 26, 2019, shareholders of Cuchen Co., Ltd. has approved the transaction. Transaction is expected to close on August 27, 2019.