Kwang Sung Technology Holdings Co. Limited agreed to acquire K·SEAT Co.,LTD. from Soribada Inc. (KOSDAQ:A053110) for KRW 17.3 billion on January 14, 2019. Under the transaction, Global Dragon Investech Limited acquires 0.34 million shares. Global Dragon Investech Limited will allocate 135.5 million common shares through 3rd party allotment paid-in capital increase. During the financial year ended December 2018, K·SEAT Co.,LTD. reported total assets of KRW 9.6 billion, net assets of KRW 5 billion, sales of KRW 14.5 billion and net loss of KRW 907.8 million. The transaction is expected to be completed on January 18, 2019. Ghilin Accounting Corporation acted as external rating institute under the transaction.

Kwang Sung Technology Holdings Co. Limited completed the acquisition of K·SEAT Co.,LTD. from Soribada Inc. (KOSDAQ:A053110) on January 18, 2019.