HLB GLOBAL Co., Ltd. (KOSE:A003580) agreed to acquire an additional 15.13% stake in Barabio Corporation for KRW 6 billion on July 9, 2024. Post the completion of this transaction and a corresponding PP transaction, HLB will hold 68.57% stake in Barabio. For the period ending December 31, 2023, Barabio Corporation reported total revenue of KRW 1.7 million, net loss of KRW 246.01 million, total debt of KRW 618.5 million, total assets of KRW 634.1 million and total common equity of KRW 15.6 million.

The expected completion of the transaction is July 24, 2024.