Imagine Asia Co., Ltd. (KOSDAQ:A036260) agreed to acquire an additional 57.14% stake in Sewon Co., Ltd. (XKON:A234100) from Chungho ComNet Co., Ltd. (KOSE:A012600) for KRW 20 billion on May 24, 2017. Under the terms of the transaction, Imagine Asia Co., Ltd. will acquire an additional 0.16 million shares of Sewon Co., Ltd. Post-closing, Imagine Asia Co., Ltd. will hold 0.238 million shares, representing 85% stake in Sewon Co., Ltd. The Board of Directors of Imagine Asia Co., Ltd. resolved the deal on May 24, 2017.

Imagine Asia Co., Ltd. (KOSDAQ:A036260) completed the acquisition of an additional 57.14% stake in Sewon Co., Ltd. (XKON:A234100) from Chungho ComNet Co., Ltd. (KOSE:A012600) on May 25, 2017.