Km Pharmaceutical Co., Ltd. cancelled the acquisition of 4% in Iconix Co., Ltd. from Wonjung Kim, Hyunsoo Seo, Changhwan Shin, Youngsik Im and Miyoung Jung.
April 19, 2018
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Km Pharmaceutical Co., Ltd. (XKON:A237720) signed a contract to acquire 4% in Iconix Co., Ltd. from Wonjung Kim, Hyunsoo Seo, Changhwan Shin, Youngsik Im and Miyoung Jung for KRW 4 billion on April 20, 2017. As reported, Km Pharmaceutical will acquire 0.13 million shares in Iconix for a cash consideration. The entire consideration is to be paid at the time of contract signing. The consideration will be funded through third party allotment paid-in capital increase resolved on February 17, 2017. All the sellers will sell 0.8% stake each in Iconix Co., Ltd for KRW 800 million each. For the year ended December 31, 2016, Iconix Co., Ltd. reported total assets of KRW 56.1 billion, total common equity of KRW 29.1 billion, revenues of KRW 55.4 billion and net income of KRW 4.1 billion. The Board of Directors of Km Pharmaceutical Co., Ltd. resolved the transaction on April 20, 2017. The deal is scheduled to close on April 20, 2017. Samil PricewaterhouseCoopers acted as external auditor.
Km Pharmaceutical Co., Ltd. (XKON:A237720) cancelled the acquisition of 4% in Iconix Co., Ltd. from Wonjung Kim, Hyunsoo Seo, Changhwan Shin, Youngsik Im and Miyoung Jung on April 20, 2018.
KMPharmaceutical Co Ltd is a Korea-based company principally engaged in the manufacture and sale of personal products. The Company is principally engaged in the manufacture and sale of oral hygiene products such as toothpaste, toothbrushes and gargles for children and adults. The Company is engaged in the manufacture and sale of beauty care products such as shampoo, body wash, cosmetics as well as other daily necessities. In addition, the Company is also engaged in the real estate leasing.
Km Pharmaceutical Co., Ltd. cancelled the acquisition of 4% in Iconix Co., Ltd. from Wonjung Kim, Hyunsoo Seo, Changhwan Shin, Youngsik Im and Miyoung Jung.