Cai ZhengWang acquired 9% stake in Organic Tea Cosmetics Holdings Company Limited (KOSDAQ:A900300) from King of Chai for KRW 8.5 billion on November 18, 2019. As per terms, King of Chai sold 5.12 million shares at KRW 1,613 per share and reduced his stake in Organic Tea Cosmetics Holdings Company Limited from 44.4% to 35.4%. Cai ZhengWang completed the acquisition of 9% stake in Organic Tea Cosmetics Holdings Company Limited (KOSDAQ:A900300) from King of Chai on November 18, 2019.