Seoul Electronics & Telecom Co., Ltd. completed the acquisition of 4.92% stake in Zinitix Co.,Ltd from Jeong-kwon Park.
March 08, 2024
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Seoul Electronics & Telecom Co., Ltd. (KOSDAQ:A027040) agreed to acquire additional 4.92% stake in Zinitix Co.,Ltd (KOSDAQ:A303030) from Jeong-kwon Park for KRW 6.8 billion on April 23, 2021. Under the terms Seoul Electronics & Telecom Co., Ltd. will acquire 1.75 shares for KRW 3905 per share. The consideration will be paid on April 28, 2021. Pre acquisition Seoul Electronics & Telecom Co., Ltd. held 4,255,046 shares, representing 11.9% stake and post acquisition will hold 6,005,046 shares, representing 16.8% stake in Zinitix Co.,Ltd. Pre acquisition Jeong-kwon Park held 2,000,000 shares, representing 5.63% stake. The transaction is expected to close on April 28, 2021.
Seoul Electronics & Telecom Co., Ltd. (KOSDAQ:A027040) completed the acquisition of 4.92% stake in Zinitix Co.,Ltd (KOSDAQ:A303030) from Jeong-kwon Park on March 8, 2024.
Zinitix Co.,Ltd., formerly Daishin Balance No.5 Special Purpose Acquisition Co., Ltd. is a Korea-based company mainly engaged in the manufacturing and sales of semiconductor integrated circuits. The Company's products provide semiconductor integrated circuit products for smart phones, tablets, laptops, home appliances and automobiles.