FINO: "Acquires 38 Million Shares in Subsidiary for About KRW 51 Billion... Stake to Reach 100%"
FINO, a KOSDAQ-listed company, disclosed on November 6 that it will acquire 38 million shares in its holding company and trading subsidiary, FINO NEW ENERGY, for KRW 50.996 billion.
The acquisition is scheduled to be completed on December 31, and FINO's ownership stake will reach 100% upon completion.
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FINO said the purpose of the acquisition is to "secure funding for investment in its new materials business by participating in a paid-in capital increase by its overseas subsidiary."
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