Duksan Hi Metal Co.,Ltd agreed to acquire 60% stake in Navcours Co., Ltd. from STIC SME Platform Fund, a fund managed by STIC Ventures, Inc and Hyung-yuk Kim for KRW 37.2 billion.
February 09, 2021
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Duksan Hi Metal Co.,Ltd (KOSDAQ:A077360) agreed to acquire 60% stake in Navcours Co., Ltd. from STIC SME Platform Fund, a fund managed by STIC Ventures, Inc and Hyung-yuk Kim for KRW 37.2 billion on February 9, 2021. Under the terms of the transaction, Hyung-yuk Kim will receive KRW 32 billion by transferring 7.8 million shares and STIC SME Platform Fund will receive KRW 5.2 billion by transferring 1.4 million shares. Duksan will pay KRW 3 billion as down payment. The transaction will be funded from cash held. Navcours Co., Ltd. reported to total assets of KRW 37.6 billion, total common equity of KRW 21.8 billion, total revenue of KRW 31.6 billion and net income of KRW 1.5 billion for the year ended December 31, 2020. The transaction is resolved by the board of Duksan Hi Metal Co.,Ltd. The transaction is expected to close on March 31, 2021.
DuksanHiMetal Co Ltd is a Korea-based company principally engaged in the manufacture and sale of semiconductor and display materials and parts. The Company operates its business through two segments. The DuksanHiMetal segment is engaged in the production and sale of solder balls, powders and other materials used for semiconductor packaging processing. The DuksanNavcours segment is engaged in the production and sale of navigation solutions and others.
Duksan Hi Metal Co.,Ltd agreed to acquire 60% stake in Navcours Co., Ltd. from STIC SME Platform Fund, a fund managed by STIC Ventures, Inc and Hyung-yuk Kim for KRW 37.2 billion.