IntroMedic Co., Ltd. cancelled the acquisition of 28.1% stake in Hyeonjin Green Bio Co., Ltd. from Hyunjin Materials co., Ltd..
December 30, 2019
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IntroMedic Co., Ltd. (KOSDAQ:A150840) signed an agreement to acquire 28.1% stake in Hyeonjin Green Bio Co., Ltd. from Hyunjin Materials co., Ltd. (KOSDAQ:A053660) for KRW 1.1 billion on December 31, 2018. As per amendment report on February 28, 2019, the consideration will be paid through off-set with IntroMedic Co., Ltd. issued 8th round unguaranteed private convertible bond. Under the terms of the transaction, IntroMedic Co., Ltd. will acquire 8,700 shares of Hyeonjin Green Bio Co., Ltd. For the year ended December 31, 2017, Hyeonjin Green Bio Co., Ltd. reported total assets of KRW 2.97 billion, total capital of KRW 335 million, sales of KRW 5.8 billion, and net profit of KRW 94 million. The transaction was resolved by the board of IntroMedic Co., Ltd. and Hyunjin Materials co., Ltd. on December 31, 2018. The transaction is expected to close on January 31, 2019. As of January 31, 2019, closing date is postponed to February 28, 2019.
IntroMedic Co., Ltd. (KOSDAQ:A150840) cancelled the acquisition of 28.1% stake in Hyeonjin Green Bio Co., Ltd. from Hyunjin Materials co., Ltd. (KOSDAQ:A053660) for KRW 1.1 billion on December 31, 2019.
IntroMedic Co., Ltd. is a Korea-based company mainly engaged in the development, manufacture and distribution of medical equipment. The Companyâs products consist of capsule endoscope, which is used for small intestine check under the brand name MiroCam; disposable endoscope, which is used to detect abnormalities of the esophagus and the stomach under the brand name E.G. Scan, and other accessories, such as abdominal disposable data belts and others. The Company distributes its products within domestic market and to overseas markets.
INTROMEDIC CO., LTD. 
