Haesung Industrial Co., Ltd. completed the acquisition of Investment business division of Keyang Electric Machinery Co., Ltd.
February 31, 2023
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Haesung Industrial Co., Ltd. (KOSDAQ:A034810) signed an agreement to acquire Investment business division of Keyang Electric Machinery Co., Ltd. (KOSE:A012200) for KRW 60 billion on October 7, 2022. Haesung will issue 6,200,559 of common stock and 388,922 of preferred stock under the merger. After the spin-off and merger, the largest shareholder and related parties of Haesung Industrial Co., Ltd. are expected to hold 53.68% (expected) of the total issued shares shares of combined company. Keyang Electric Machinery Co., Ltd. has no change in its stake before and after the spin-off and merger. Keyang Electric Machinery Co., Ltd. survives with only the remaining business divisions that have not been split. Merger is expected to complete on February 1, 2023.
Haesung Industrial Co., Ltd. (KOSDAQ:A034810) completed the acquisition of Investment business division of Keyang Electric Machinery Co., Ltd. (KOSE:A012200) on February 1, 2023.
Haesung Industrial Co Ltd is a Korea-based holding company mainly engaged in the real estate rental management business. The Company operates its business through three segments. The Real Estate Rental and Management Business segment engages in the operation of office building rental business, facility management business for rental areas, and parking lot management business. The Facility Management Business segment is engaged in the operation and management of facilities such as office buildings, machinery and electrical equipment, and the entire rental business. The Real Estate Development segment engages in the construction of logistics warehouses, hotels, office buildings and others. The Company also operates holding business.
HAESUNG INDUSTRIAL CO., LTD. 
