Outin Futures Co., Ltd (KOSDAQ:A227610) agreed to acquire 51% stake in Gwanryeong International Co., Ltd from Jin sook kim for KRW 3.5 billion on June 7, 2022.The consideration will be in the form of cash. Outin Futures is acquiring 0.02 million shares of Gwanryeong International. as reported in the financials Gwanryeong International Co., Ltd had revenue of Approximately KRW 160 billion,total assets of KRW 9.3 billion with net income of approximately KRW 100 million and total common equity of approximately KRW 210 million.

the transaction is expected to complete on June 21,2022. Due to extension of due diligence period the expected closing date changed to October 12, 2022. As of October 12, 2022, the transaction is expected to close on November 17, 2022.