Shinpoong Paper Mfg. Co., Ltd (KOSE:A002870) agreed to acquire unknown minority stake in Trabio Co., Ltd. from Lee Jong Hoon on December 21, 2022. As part of transaction, Shinpoong Paper will acquire 44,800 shares.

In related transaction, Shinpoong Paper Mfg. also acquired 224,004 shares through third party allotment. After the completion of transaction, Shinpoong Paper Mfg.

Co., Ltd will hold 70% stake in Trabio. For the year ended December 21, 2021, Trabio reported total assets of KRW 13.8 billion, total stockholders equity of KRW 2.4 billion, sales of KRW 74.8 billion and net profit of KRW 353 million. The transaction is expected to complete on December 23, 2022.