KG Mobilians Co., Ltd completed the acquisition of Allat Corporation from Kginicis Co.,Ltd and others.
February 11, 2020
Share
KG Mobilians Co., Ltd (KOSDAQ:A046440) agreed to acquire Allat Corporation from Kginicis Co.,Ltd (KOSDAQ:A035600) and others for approximately KRW 490 billion on November 18, 2019. Under the terms of the transaction, the merger ratio to be paid for the transaction is 1:8.9186117 (KG Mobility: KG All-At Co., Ltd.). KG Mobilians shall acquire approximately 8.9 million shares. Allat Corporation will be merged into KG Mobilians and KG Mobilians will be surviving entity. Board of Directors of KG Mobilians Co., Ltd resolved the transaction on November 18, 2019. The transaction is subject to shareholder approval of KG Mobilians and Kginicis. The transaction is expected to close on February 27, 2020. Hanul Accounting Firm acted as an external evaluation agency.
KG Mobilians Co., Ltd (KOSDAQ:A046440) completed the acquisition of Allat Corporation from Kginicis Co.,Ltd (KOSDAQ:A035600) and others on February 12, 2020. The new shares will be issued on March 17, 2020.
KGINICIS CO.,LTD is a Korea-based company engaged in the provision of online payment gateway (PG) services. The Company provides secure PG solutions through cryptographic authentication, data protection and electronic signature technologies. The Company provides payment services under the brand name of INIpay. The Company offers a comprehensive line of payment services through credit cards, debt cards, purchasing cards, electronic fund transfer processing, gift cards, loyalty cards, stored value cards, point-of-sale equipment, merchant accounting and others. It has partnerships with online shopping malls, telecommunication carriers, public institutions and others.
KGINICIS CO.,LTD 
