GemVax Technology Co., Ltd. acquired additional 6.68% stake in Feelingk Co., Ltd from Stone Bridge Union Co., Ltd. for KRW 14 billion.
November 09, 2017
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GemVax Technology Co., Ltd. (KOSDAQ:A041590) agreed to acquire additional 6.68% stake in Feelingk Co., Ltd (KOSDAQ:A064800) from Stone Bridge Union Co., Ltd. for KRW 14 billion on November 9, 2017. GemVax Technology will acquire 3.5 million shares of Feelingk. The consideration will be paid in cash on November 9, 2017. Upon completion, GemVax Technology will hold 20.6% stake in Feelingk. The board of GemVax Technology passed a resolution on the transaction. The transaction is expected to complete on November 9, 2017. Lian Accounting Corporation acted as the external rating institution for the transaction.
GemVax Technology Co., Ltd. (KOSDAQ:A041590) completed the acquisition of additional 6.68% stake in Feelingk Co., Ltd (KOSDAQ:A064800) from Stone Bridge Union Co., Ltd. on November 9, 2017.
GemVaxLink Co Ltd, formerly Feelingk Co Ltd, is a Korea-based company mainly engaged in the sale of clothing miscellaneous goods. The Company operates its business through two segments. The Overseas Fashion Business segment sells apparel, fashion, miscellaneous goods, and luxury goods. The Wireless Internet Solution Business segment mainly develops wireless Internet solutions such as short message service center (SMSC) and long message service center (LMSC) systems, wireless application protocol (WAP) gateways and multimedia message service center (MMSC) systems, and other wireless Internet solutions such as ring back tone (RBT), unified messaging system (UMS) as well as wireless Internet platforms for interoperability (WIPI) globalization solutions under the brand name of Feelingk. The Company also involves in the management consulting and real estate rental business.
GEMVAXLINK CO., LTD. 
