Simmtech Global Co., Ltd cancelled the acquisition of 1% stake in Simmtech Hong Kong Holdings Limited and 5% stake in STJ Holdings Co., Ltd from Niching Industrial Corporation and Simmtech Japan Incorporation.
October 30, 2019
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Simmtech Global Co., Ltd agreed to acquire 1% stake in Simmtech Hong Kong Holdings Limited and 5% stake in STJ Holdings Co., Ltd from Niching Industrial Corporation (GTSM:3444) and Simmtech Japan Incorporation for KRW 1 billion on October 30, 2018. Under the terms, Simmtech Global will issue 0.10 million shares to acquire 0.4 million shares of Simmtech Hong Kong Holdings from Niching Industrial and will issue 0.15 million shares to acquire 0.01 million shares of STJ Holdings from Simmtech Japan. The consideration will be paid on November 30, 2018. After allocation, SimmTech Co. Ltd. will own 98.5% of SIMMTECH GLOBAL Co., Ltd.
As of December 31, 2017, Simmtech Hong Kong Holdings reported total assets of KRW 90.2 billion, net assets of KRW 60.9 billion, sales of KRW 120.4 billion and net profit of current period of KRW 16.5 billion. The transaction has been resolved by the Board of directors of SimmTech Co., Ltd at the meeting held on October 30, 2018. The completion of the acquisition of Simmtech Hong Kong Holdings Limited is expected to be completed by November 30, 2018. KPMG Samjong Accounting Corp acted as External Rating Institution in a transaction.
Simmtech Global Co., Ltd cancelled the acquisition of 1% stake in Simmtech Hong Kong Holdings Limited and 5% stake in STJ Holdings Co., Ltd from Niching Industrial Corporation (GTSM:3444) and Simmtech Japan Incorporation on October 30, 2019.
NICHING INDUSTRIAL CORPORATION is a Taiwan-based company principally engaged in the sales of semiconductor components and equipment and optoelectronic products. Its semiconductor products include capillaries, packaging components, lead frames, film wafers, dummy wafers, memory module boards (MMBs), printed circuit boards (PCBs) for flash memory cards, multi-chip packages (MCPs) and land grid array (LGA) substrates, among others. Its optoelectronic products include integrated circuit (IC) chip trays, chip on flex (COF)/tape automated bonding (TAB) tapes, shipping reels, emboss and metal targets, among others. The Company also provides aerogel, markings and clean room supplies, which are applied in green energy industry and other industries.
Simmtech Global Co., Ltd cancelled the acquisition of 1% stake in Simmtech Hong Kong Holdings Limited and 5% stake in STJ Holdings Co., Ltd from Niching Industrial Corporation and Simmtech Japan Incorporation.