[Asia Economy Reporter Minji Lee] Kumho Electric announced on the 21st that it has decided to acquire a 55% stake in Eric & Company, a blockchain technology developer.
The number of shares to be acquired is 1,272, and the amount required for the acquisition is 9.3492 billion KRW. The company explained that this is "to enhance corporate value through business diversification."
The payment method for the transaction amount consists of cash payment, convertible bonds, and participation in a paid-in capital increase. It paid 3.3516 billion KRW in cash and plans to issue convertible bonds worth 3.9984 billion KRW. Additionally, it will proceed with a third-party allotment paid-in capital increase worth 5 billion KRW. The issue price of the new shares is 3,290 KRW, and the scheduled listing date is May 18.
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