RFTech Co., Ltd. acquired Youth Fill Co., Ltd. from Korea Science & Technology Holdings, Heedong Woo, Jungmoo Heo, Sunseop Kim and Seonghwan Seo for KRW 21.5 billion.
June 06, 2019
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RFTech Co., Ltd. (KOSDAQ:A061040) signed a contract to acquire Youth Fill Co., Ltd. from Korea Science & Technology Holdings, Heedong Woo, Jungmoo Heo, Sunseop Kim and Seonghwan Seo for KRW 21.5 billion on June 5, 2019. As per terms, 0.45 million common shares and 0.1 million preferred shares will be acquired in cash. The sellers will sell 0.1 million preferred shares for KRW 3.9 billion, 0.26 million common shares for KRW 0.2 billion, 0.14 million common shares for KRW 5.5 billion, 0.035 million common shares for KRW 1.4 billion and 0.015 million shares for KRW 586.4 million. Out of the consideration, 20% is paid on contract signing and balance is payable on June 7, 2019. For the year ended December 31, 2018, Youth Fill Co., Ltd. reported total assets of KRW 3.2 billion, net assets of KRW 1.9 billion, revenues of KRW 3.5 billion and net income of KRW 872 million. The Board of Directors of RFTech Co., Ltd. resolved the deal on June 5, 2019. The deal is expected to be completed on June 7, 2019.
RFTech Co., Ltd. (KOSDAQ:A061040) completed the acquisition of Youth Fill Co., Ltd. from Korea Science & Technology Holdings, Heedong Woo, Jungmoo Heo, Sunseop Kim and Seonghwan Seo on June 7, 2019.
RFTech Co.,Ltd. is a Korea-based company mainly engaged in the manufacturing and marketing of value-added products for mobile phones. The Company's mobile phone parts consist of mobile phone chargers, travel chargers, hands-free kits, data link kits, digital multimedia broadcasting (DMB) antennas, data link cables (DLCs), cell phone stylus pens, radio frequency (RF) modules and other accessories. It also involves in the provision of industrial light emitting diode (LED) lightings such as system bar LED lightings, planar lightings, round lightings and others. The Company acts as an original development & design manufacturer (ODM) of Samsung Electronics. It distributes products within domestic market and to overseas markets.
RFTech Co., Ltd. acquired Youth Fill Co., Ltd. from Korea Science & Technology Holdings, Heedong Woo, Jungmoo Heo, Sunseop Kim and Seonghwan Seo for KRW 21.5 billion.