Fistis New Technology Fund, Crediment and Acro Partners Limited signed a contract to acquire 36.5% stake in Syswork Co., Ltd from a group of shareholders for KRW 36.6 billion
August 20, 2020
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Fistis New Technology Fund, Crediment and Acro Partners Limited signed a contract to acquire 36.5% stake in Syswork Co., Ltd (KOSDAQ:A269620) from a group of shareholders for KRW 36.6 billion on August 19, 2020. As of September 18, 2020 Fistis New Technology Fund, Crediment, Bell Green Investment Association, DF Fund, Timeless Fund 1 and Genius Fund agreed to acquire unknown stake in Syswork Co., Ltd.
The offer per share is KRW 4000. In a related deal, BBB Inc. participates in the paid-in capital increase assigned by Syswork Co., Ltd. on August 19, 2020. On contract date, there will be a down payment of KRW 10 billion and the balance of KRW 26.6 billion will be paid on September 28, 2020. Fistis New Technology Fund 14 will acquire 3.5 million shares, Crediment will acquire 3 million shares and Acro Partners Limited will acquire 2.7 million shares of Syswork. As of September 18, 2020 Fistis New Technology Fund will acquire 3,157,020 shares, Crediment will acquire 2 million shares, Genius Fund, Timeless Fund 1, DF Fund and Bell Green Investment Association will acquire 1 million shares each in Syswork Co., Ltd. The transaction will be funded by Camero Investment Association and 2 others. The Board of Directors of Syswork passed a resolution for the deal on August 19, 2020.
SYSWORK CO., LTD is a Korea-based company mainly engaged in the production and sale of cleanroom control systems. The cleanroom control systems are the monitoring and control systems of fan filter units (FFUs) and equipment fan filter units (EFUs) used in cleanroom. The main cleanroom control systems include integrated environment monitoring and control systems such as FFU operation, control, and monitoring. The integrated environment monitoring and control systems are to maintain cleanroom environment which is an essential element in the production process of displays and semiconductor lines. The Company also manufactures and sells brushless direct current (BLDC) motors. The BLDC motors are the semi-permanently available motors. The main BLDC motors are outer rotor motors. In addition, the Company also involved of manufacturing and sale of air conditioning controllers.
Fistis New Technology Fund, Crediment and Acro Partners Limited signed a contract to acquire 36.5% stake in Syswork Co., Ltd from a group of shareholders for KRW 36.6 billion
SYSWORK CO., LTD 