KoAsia "Selling 31% Stake in BSE... To Utilize for Expanding System Semiconductor Business"

[Asia Economy Reporter Yoo Hyun-seok] CoAsia announced on the 18th that it will sell 31.25% of the shares of its 100% subsidiary BSE to Truewin. The total sale amount is 14 billion KRW.

CoAsia will receive 1.4 billion KRW on the day of the contract signing. On January 22 of next year, it will receive an interim payment of 5.6 billion KRW. The remaining 7 billion KRW will be paid by acquiring convertible bonds (CB) issued by Truewin.

A company official stated, "This share sale is to secure funds for expanding the system semiconductor foundry business, which is being developed as a core business," and added, "As projects from global companies increase, we will strengthen business competitiveness by securing high-level personnel at domestic and overseas bases."

Meanwhile, CoAsia was registered as an official Design Solution Partner (DSP) of Samsung Foundry in the first half of this year and was also selected as the highest-grade official design partner (AADP) of the UK-based ARM.