Skywinds Technology Co., Ltd. completed the acquisition of 27.8% stake in Seohwa Telecom Co. from SJM Holdings Co., Ltd. and Whi- Joong Kim on April 18, 2017.
April 18, 2017
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Skywinds Technology Co., Ltd. entered into a contract to acquire 27.8% stake in Seohwa Telecom Co. (KOSDAQ:A033790) from SJM Holdings Co., Ltd. (KOSE:A025530) and Whi- Joong Kim for KRW 22.6 billion on March 3, 2017. Skywinds Technology Co., Ltd. will acquire 3.17 million shares at KRW 7,139 per share. As reported, Skywinds Technology paid KRW 2.2 billion as deposit on March 3, 2017 and shall pay remaining KRW 20.4 billion on April 20, 2017. 2.8 million shares representing 24.91% stake will be sold by SJM Holdings Co., Ltd. and 0.33 million shares representing 2.89% stake will be sold by Whi-Joong Kim. Post completion, SJM Holdings Co., Ltd. will not hold any stake in Seohwa Telecom Co. while Whi- Joong Kim will retain 2.88% stake in Seohwa Telecom Co. The stock will be transferred on April 20, 2017. The stock will be transferred on April 18, 2017. As of April 18, 2017, balance consideration was paid on April 18, 2017 and 3.17 million shares will be transferred to the securities account of Skywinds Technology on April 20, 2017.
Skywinds Technology Co., Ltd. completed the acquisition of 27.8% stake in Seohwa Telecom Co. (KOSDAQ:A033790) from SJM Holdings Co., Ltd. (KOSE:A025530) and Whi- Joong Kim on April 18, 2017.
Skymoons Technology, Inc., formerly Seohwa, Inc., is a Korea-based company engaged in the manufacturing of communications equipment. The Companyâs products portfolio consists of communication repeaters, such as code division multiple access (CDMA) repeaters, wideband CDMA (WCDMA) repeaters, wireless broadband (WiBro) repeaters, dual band repeaters, triple band repeaters, satellite digital multimedia broadcasting repeaters, in-home patch repeaters and others used to improve speech quality; information technology (IT) products, including notebooks, projectors, media players, wireless fidelity (WiFi) phones, as well as other products, such as light panels. The Company also involves in the provision of repeaters maintenance services.
Skywinds Technology Co., Ltd. completed the acquisition of 27.8% stake in Seohwa Telecom Co. from SJM Holdings Co., Ltd. and Whi- Joong Kim on April 18, 2017.
SKYMOONS TECHNOLOGY, INC. 
