A private equity firm of Hong Kong agreed to acquire 6.4% stake in KDMedia Inc. (KOSE:A063440) from Hoin Shin for KRW 3.1 billion on September 27, 2012. The buyer will acquire 0.64 million shares and management rights. The total amount of stock acquisition payment will be paid on the management rights transfer date, which is the extra ordinary shareholders' meeting date that is September 27, 2012. After the deal, Hoin Shin will hold 9.72% stake in KDMedia. On the extra ordinary shareholders' meeting, buyer designates will be assigned as new registered officers and all other matters proposed will be passed. On the other hand, the Chief Executive Officer which the buyer designates in the Board of Directors meeting will be the Chief Executive Officer. The date deputy representative would be resigning will be the management rights transfer date. All the registered officers must be able to submit their resignation until the extra ordinary shareholders' meeting.

A private equity firm of Hong Kong completed the acquisition of 6.4% stake in KDMedia Inc. (KOSE:A063440) from Hoin Shin on November 7, 2012.