Kemtronics Acquires 4.5 Million Shares of Subsidiary Witz

[Asia Economy Reporter Lim Hye-seon] Chemtronics announced on the 25th that it will additionally acquire 14.5 million shares of its affiliate, Witz, a company specializing in wireless power transmission for mobile devices and NFC chip coils, for 29 billion KRW. After the acquisition, Chemtronics' stake in Witz will be 74%.

The scheduled date for the stock acquisition is the 9th of next month.