KGinicis Co.,Ltd. (KOSDAQ:A 035600) cancelled the acquisition of an additional 4% stake in K-Bank from KG Mobilians Co., Ltd.
April 26, 2018
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KGinicis Co.,Ltd. (KOSDAQ:A 035600) agreed to acquire an additional 4% stake in K-Bank from KG Mobilians Co., Ltd (KOSDAQ:A046440) for KRW 10.4 billion on April 27, 2017. Under the terms of the transaction, KGinicis Co.,Ltd. will acquire an additional 2 million shares and will hold 4 million shares upon completion, representing 8% stake. As of December 31, 2016, K-Bank reported total assets of KRW 237 billion, total capital of KRW 220 billion, sales of KRW 3.1 billion, and net loss of KRW 25.5 billion. As on April 27, 2017, transaction was resolved by the board of directors of KGinicis and KG Mobilians. The transaction is scheduled to be closed on May 19, 2017.
KGinicis Co.,Ltd. (KOSDAQ:A 035600) cancelled the acquisition of an additional 4% stake in K-Bank from KG Mobilians Co., Ltd (KOSDAQ:A046440) on April 27, 2018.
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 
