A.Tion Fashion, Inc. and Kanaan Co.,Ltd. proposed to acquire additional 22.02% stake in Shinsung Tongsang Co., Ltd. (KOSE:A005390) for KRW 72.8 billion on June 21, 2024. As per the transaction, A.Tion Fashion, Inc. and Kanaan Co.,Ltd. will acquire 18.98 million shares representing 13.21% stake and 12.7 million shares representing 8.81% stake respectively of Shinsung Tongsang Co., Ltd. at KRW 2300 per share. After the transaction, Kanaan Co.,Ltd. will hold 55.31% stake and A.Tion Fashion, Inc. will hold 26.47% stake in Shinsung Tongsang Co., Ltd. The expected completion of the transaction is July 22, 2024.
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- A.Tion Fashion, Inc. and Kanaan Co.,Ltd. proposed to acquire additional 22.02% stake in Shinsung Tongsang Co., Ltd. for KRW 72.8 billion.