Obelisk Fund along with Ulysses No. 1 Fund cancelled the acquisition of 9.372661% stake in FN REPUBLIC Co., Ltd from Jayjun Cosmetic Co., Ltd..
October 30, 2022
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Obelisk Fund along with Ulysses No. 1 Fund managed by Ulysses Capital entered a stock sale contract to acquire 9.372661% stake in FN REPUBLIC Co., Ltd (KOSDAQ:A064090) from Jayjun Cosmetic Co., Ltd. (KOSE:A025620) for KRW 4.73 billion on September 27, 2022. Obelisk Fund will acquire 0.53 shares and Ulysses No. 1 Fund will acquire 0.5 million shares. The transaction is expected to close on September 27, 2022. As of September 27, 2022, transaction is expected to close on October 7, 2022. As of October 7, 2022, The transaction is expected to close on October 28, 2022.
Obelisk Fund along with Ulysses No. 1 Fund cancelled the acquisition of 9.372661% stake in FN REPUBLIC Co., Ltd (KOSDAQ:A064090) from Jayjun Cosmetic Co., Ltd. (KOSE:A025620) on October 31, 2022. The transaction was cancelled due to non payment of the consideration.
Westrise Co Ltd, formerly FN Republic Co Ltd, is a Korea-based company mainly engaged in general product wholesale business. As a fashion and beauty brand distribution and marketing platform company, the Company is engaged in overseas clothing distribution and marketing business focusing on fashion clothing and miscellaneous goods. The Company is engaged in the wholesale and retail of cosmetics. The company mainly operates its business in China.