Hyosung Corporation completed the acquisition of additional 15.9% in Hyosung Advanced Materials Corporation from Hyun-Joon Cho, Dongyang Institute and others for KRW 91.8 billion.
Hyosung Corporation (KOSE:A004800) completed the acquisition of additional 15.9% in Hyosung Advanced Materials Corporation (KOSE:A298050) from Hyun-Joon Cho, Dongyang Institute and others for KRW 91.8 billion on December 20, 2018. Hyosung Corporation issued shares as a product of 0.71 million shares being and the offer per share of KRW 103,000, divided by issue price per 1 Hyosung Corporation's new registered common stock of KRW 48548 usedfor calculation. The number of shares calculated on this basis is 1.5 million shares of Hyosung Corporation and the rest amount for the fractional shares weren't issued, but the cash equivalent calculated based on a formula was given to Hyun-Joon Cho, Dongyang Institute and others.