Point-I Co., Ltd. completed the acquisition of NEXEN ENGINEERING CO., LTD. from Koh, Hyun-Jeong and special related parties.
December 30, 2015
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Point-I Co., Ltd. (KOSDAQ:A078860) agreed to acquire NEXEN ENGINEERING CO., LTD. from Koh, Hyun-Jeong and special related parties for KRW 8.1 billion on September 14, 2015. Under the terms of the transaction, the merger ratio of 1:26.0853465 has been decided between Point-I and NEXEN ENGINEERING. A total of 1.57 million new Point-I shares will be issued for the merger. Point-I will survive and NEXEN ENGINEERING will be dissolved after the merger. NEXEN ENGINEERING CO., LTD. reported total assets of KRW 1.9 billion and total capital of KRW 717.39 million as of December 31, 2014. The deal is subject to approval of shareholders of Point-I and NEXEN ENGINEERING. As on October 27, 2015, the transaction was approved by the shareholders of IOKCOMPANY Co., Ltd. The merger is expected to close on December 1, 2015. Jung Hyeon Accounting Corporation provided valuation in the transaction.
Point-I Co., Ltd. (KOSDAQ:A078860) completed the acquisition of NEXEN ENGINEERING CO., LTD. from Koh, Hyun-Jeong and special related parties on December 1, 2015.
IOKCOMPANY Co., Ltd. is a company mainly engaged in the entertainment business. Along with subsidiaries, the Company operates its business through two segments. The Entertainment Business segment is engaged in artist management, manufacturing and sales of cosmetics and fashion products. Cosmetics are sold under the name of KOY. Fashion products are sold under the name of atti.k. The Information and Communication Technology (ICT) Business is engaged in the provision of wireless Internet solutions and services.
IOKCOMPANY CO., LTD. 
