HUMAX to Acquire Additional 10.8 Billion Won in Alt Mobility Shares... Raising Stake to 58.3%
KOSDAQ-listed HUMAX is acquiring an additional stake in Alt Mobility.
HUMAX disclosed on October 22 that it would acquire an additional 2.15 million shares in Alt Mobility, a company that develops, manufactures, produces, and distributes wired and wireless communications devices and broadcasting equipment, for approximately 10.8 billion won.
Once the share acquisition is complete, HUMAX's stake in Alt Mobility will rise to 58.3%. The acquisition is scheduled to be completed on October 31.
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HUMAX said the purpose of the additional stake acquisition was to "recover receivables by converting loan receivables into equity."
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