An unknown buyer signed an agreement to acquire 11.7% stake in JICO co., Ltd (KOSE:A010580) from Kodaco Co., Ltd (KOSDAQ:A046070) on June 13, 2019. Buyer will acquire 6.74 million shares. As per the agreement, Kodaco Co., Ltd will sell 4.5 million shares at KRW 2000 per share.

Buyer has deposited KRW 1 billion and KRW 8 billion have to paid yet. As part of agreement, Kodaco Co., Ltd will also transfer management rights. Board of Directors of JICO co., Ltd passed the resolution on June 13, 2019.