LS Cable & System Acquires Additional 19.3 Million Shares of Affiliate LS Materials

[Asia Economy Reporter Dongwoo Lee] LS announced on the 13th that its subsidiary LS Cable & System will additionally acquire 19,262,773 shares of LS Mtron, an electronic capacitor manufacturing affiliate, for approximately 59.6 billion KRW.

After the stock acquisition, LS Cable & System's stake in LS Mtron will be 68.9%. The scheduled date for the stock acquisition is the 30th of next month.

LS stated that the purpose of this stock acquisition is to participate in LS Mtron's paid-in capital increase (in-kind contribution) resulting in the stock acquisition.