SBI Investment Korea Co., Ltd. (KOSDAQ:A019550) signed an agreement to acquire 17.95% stake in Creative & Innovative System Corporation (KOSDAQ:A222080) from Suha Kim for approximately KRW 53.3 billion on July 1, 2020. Under the transaction, Suha Kim will sell 10.11 million shares of Creative & Innovative System Corporation at KRW 5,274 per share. As of July 1, 2020, Suha Kim sold 3.8 million shares or 6.73% stake in Creative & Innovative System Corporation at KRW 5,274 per share. The remaining 6.32 million shares will be sold and paid for on August 31, 2020. Upon completion, Suha Kim will hold 3.78 million shares of Creative & Innovative System Corporation.
As per the update on August 28, 2020, the remining payment of KRW 33.3 billion will be paid by October 15, 2020. The transaction is expected to be completed on October 15, 2020.