Kumyang Co., Ltd. agreed to acquire an unknown stake in SM Lab Co., Ltd. for KRW 10320 million.
November 05, 2023
Share
Kumyang Co., Ltd. (KOSE:A001570) agreed to acquire an additional 2.31313% stake in SM Lab Co., Ltd. for KRW 10.3 billion on November 6, 2023. As part of transaction, 715,000 shares will be acquired. After completion of transaction, Kumyang will own 6,897,111 shares which constitutes 22.31%.
For period ended December 31, 2022, SM Lab reported total assets of KRW 97.9 billion, total debt of KRW 24.1 billion, total capital of KRW 73.9 billion, sales of KRW 78.4 billion and Net loss of KRW 89.3 billion. The transaction is expected to complete on November 13, 2023.
KUM YANG CO., LTD. is a Korea-based company engaged in the manufacture and sale of chemicals and related products. The Company's product portfolio consists of chemical blowing agents, which are chemical additives used to evolve gas through thermal decomposition and produce foam structures in a polymeric matrix; capsulated blowing agents, which are used for polyvinyl chloride (PVC) sandals, artificial leather, screen printing, printing ink and other areas; master batches, which make processing circumstance clean without flowing powders and chemicals loss; titanium dioxides, which are used for coating industry, plastics and others, as well as flame retardant and other products. The Company distributes its products within domestic market and to overseas markets. On February 26, 2014, it acquired whole shares of KUMYANG NEIMENGGU CHEMICAL CO.,LTD, a China-based blowing agent manufacturing company. After that, the Company holds 100% of KUMYANG NEIMENGGU CHEMICAL CO.,LTD.
KUMYANG CO., LTD. 
