Telcon RF Pharmaceutical Inc. (KOSDAQ:A200230) acquired an additional 9.97% stake in KPM TECH Co., Ltd. (KOSDAQ:A042040) from Evercore Investment Corp. for KRW 47.9 billion on November 3, 2020. Under the term, Telcon RF Pharmaceutical Inc. acquired an additional 13.71 million shares at KRW 3492 per share. Telcon RF Pharmaceutical Inc. paid KRW 23.46 billion with a substitute payment of KRW 14.36 billion on November 3, 2020. On December 2, 2020, Telcon RF Pharmaceutical Inc. planned to pay KRW 10.05 billion. Telcon RF Pharmaceutical Inc. previously held 5.11% stake in KPM TECH Co., Ltd. and post completion of the transaction holds 15.07% stake. The transaction was resolved by the board of directors of Telcon RF Pharmaceutical Inc. on November 3, 2020. The transaction is expected to close on November 3, 2020.

Telcon RF Pharmaceutical Inc. (KOSDAQ:A200230) completed the acquisition of an additional 9.97% stake in KPM TECH Co., Ltd. (KOSDAQ:A042040) from Evercore Investment Corp. on November 3, 2020.