Seo, Joon-Sung completed the acquisition of 17.47% stake in Hyundai Digital Technology Co., Ltd. from KRTnet Corp. and Shinheung Telecom.
October 25, 2012 at 12:00 am
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Seo, Joon-Sung signed a contract to acquire 17.47% stake in Hyundai Digital Technology Co., Ltd. (KOSE:A035480) from KRTnet Corp. (KOSE:A065530) and Shinheung Telecom for KRW 12.5 billion on September 5, 2012. KRTnet will sell 1.45 billion Hyundai shares while Shinheung will sell 1.05 million Hyundai shares for KRW 5,000 each. Out of the total consideration, KRW 4.07 billion will be paid on September 5, 2012, KRW 3.2 billion will be paid on September 7, 2012 to KRTnet Corp. and remaining consideration of KRW 5.3 billion will be paid to Shinheung Telecom on October 26, 2012. Shinheung Telecom will be the largest shareholder of Hyundai on September 7, 2012 while Seo, Joon-Sung will be the largest shareholder on October 26, 2012. The transaction is expected to close on October 26, 2012.
As on September 7, 2012, KRTnet Corp exited from the shareholding of Hyundai Digital Technology. Shinheung Telecom became the largest shareholder of Hyundai Digital Technology as on September 7, 2012.
Seo, Joon-Sung completed the acquisition of 17.47% stake in Hyundai Digital Technology Co., Ltd. (KOSE:A035480) from KRTnet Corp. (KOSE:A065530) and Shinheung Telecom on October 25, 2012.
Wiable Corp, formerly KRTnet Corp, is a Korea-based company principally engaged in the construction, sale, operation, and maintenance business of public wireless base stations. The Company is engaged in construction, sale, operation, and maintenance business of public wireless base stations and relay networks in the ground, subway and various tunnel sections. In addition, the Company is involved in the construction of communication facilities.
WIABLE CORP. 
