WIZIT Co., Ltd. cancelled the acquisition of 39.4% stake in Powernet Technologies Corporation from Chungkang Co.,Ltd.
February 31, 2018
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WIZIT Co., Ltd. (KOSDAQ:A036090) agreed to acquire 39.4% stake in Powernet Technologies Corporation from Chungkang Co.,Ltd. for KRW 17 billion on February 1, 2017. Under the terms of the transaction, payment should be made on completion. Chungkang Co.,Ltd. will sell 3.98 million shares. The transaction is expected to be completed by February 10, 2017.
WIZIT Co., Ltd. (KOSDAQ:A036090) cancelled the acquisition of 39.4% stake in Powernet Technologies Corporation from Chungkang Co.,Ltd. on February 1, 2018.
Wizit. Co., Ltd is a Korea-based company mainly engaged in the manufacture of liquid crystal display (LCD) and semiconductor components. The Company provides two categories of products: LCD components, including upper electrodes, lower electrodes, susceptors, diffusers, chucks, coater chucks and others, which are used in etching and chemical vapor deposition (CVD) processes, and semiconductor components, such as consumable spare parts and others. The Company distributes its products within domestic market and to overseas market. Its main partners are SAMSUNG MOBLIE DISPLAY, LG DISPLAY, WONIK IPS, LG Innotek and others.