LIG Nex1 Co., Ltd. acquired an additional 16.55% stake in Innowireless Co., Ltd. from KCGI Helios 1st Private Equity Fund, fund of KCGI Co., Ltd. for KRW 33.1 billion.
November 08, 2020
Share
LIG Nex1 Co., Ltd. (KOSE:A079550) acquired an additional 16.55% stake in Innowireless Co., Ltd. (KOSDAQ:A073490) from KCGI Helios 1st Private Equity Fund, fund of KCGI Co., Ltd. for KRW 33.1 billion on November 9, 2020. Under the terms of the transaction, LIG Nex1 Co., Ltd. will acquire an additional 1.1 million shares in cash acquisition through exercise of the purchase right (exercised an option) for KRW 33.1 billion. The offer per share is KRW 29720. Post-closing, LIG Nex1 Co., Ltd. will own 1.4 million shares representing 21% stake in Innowireless Co., Ltd. and KCGI Helios 1st Private Equity Fund, fund of KCGI Co., Ltd. will own 0.74 million shares representing 10.91% stake in Innowireless Co., Ltd. The transaction is self funded. On November 5, 2020, the Board of Directors of LIG Nex1 Co., Ltd. decided to exercise the purchase right (call option) on November 9, 2020. Payment will be completed on November 9, 2020. The transaction is expected to close on November 9, 2020.
LIG Nex1 Co., Ltd. (KOSE:A079550) completed the acquisition of an additional 16.55% stake in Innowireless Co., Ltd. (KOSDAQ:A073490) from KCGI Helios 1st Private Equity Fund, fund of KCGI Co., Ltd. on November 9, 2020.
LIG Nex1 Co Ltd is a Korea-based company mainly engaged in the research, development and production of weapon systems. The Company provides weapons systems mainly used in defense industry fields including precision guided munitions (PGMs), intelligence, surveillance and reconnaissance (ISR), avionics and electronic warfare (AEW), command, control, communications, computers, and information (C4I). PGMs products are composed of antiair, antiship and antisubmarine, earth, air to ground and underwater weapons. ISR products include search radars, tracking radars, image radars, electro-optical equipment, and underwater surveillance systems. AEW products include electronic warfare systems such as avionics, ship and aircraft electronic warfare and army electronic warfare. C4I products include communication terminals, radios and combat systems.
LIG Nex1 Co., Ltd. acquired an additional 16.55% stake in Innowireless Co., Ltd. from KCGI Helios 1st Private Equity Fund, fund of KCGI Co., Ltd. for KRW 33.1 billion.
LIG NEX1 CO., LTD. 
