Innopaean Co., Ltd. acquired 20.01% stake in ISE Commerce Company Limited from ISE Network Co., Ltd., Han Young Science Co. Ltd. and Saman Trading Co., Ltd. for KRW 29.8 billion.
June 06, 2024
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Innopaean Co., Ltd. acquired 20.01% stake in ISE Commerce Company Limited (KOSDAQ:A069920) from ISE Network Co., Ltd., Han Young Science Co. Ltd. and Saman Trading Co., Ltd. for KRW 29.8 billion on June 7, 2024. A cash consideration of KRW 20 million valued at KRW 5760 per share will be paid by Innopaean Co., Ltd. Innopaean Co., Ltd. will pay an earnout/contingent payment of KRW 29.75 billion cash. As part of consideration, KRW 29.77 billion is paid towards common equity of ISE Commerce Company Limited. The transaction will be financed through equity investment of KRW 16 billion, and debt of KRW 14 billion.
Innopaean Co., Ltd. completed the acquisition of 20.01% stake in ISE Commerce Company Limited (KOSDAQ:A069920) from ISE Network Co., Ltd., Han Young Science Co. Ltd. and Saman Trading Co., Ltd. on June 7, 2024
ISE Commerce Company Limited is a Korea-based company engaged in the electronic commerce business. The Company engages in the provision of overseas and domestic shopping agency services through Internet catalogues: WIZWID, SKINRx, HauOlin, Sports25 and others. WIZWID provides apparels, shoes, bags and others. SKINRx mainly provides skin care products, body and hair care products, make-ups, fragrances and others. HauOlin provides living and home related items such as fabrics, furniture, kitchen and bath appliances and others. Sports25 principally provides leisure lifestyle sports goods. The Company also involves in the offline business, operating Wconcept store, Ntrend project, HanOlin store, and Jinny Kim Store. On April 1, 2013, the Company divested its brand-Jinny Kim business into a newly established wholly owned subsidiary.
Innopaean Co., Ltd. acquired 20.01% stake in ISE Commerce Company Limited from ISE Network Co., Ltd., Han Young Science Co. Ltd. and Saman Trading Co., Ltd. for KRW 29.8 billion.