Uniquest Corporation agreed to Spin-Off 33.2% stake in DREAMTECH Co., Ltd..
July 02, 2023
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Uniquest Corporation agreed to Spin-Off 33.2% stake in DREAMTECH Co., Ltd. (KOSE:A192650) on July 3, 2023. As per the terms of the transaction, Investment business Division of Uniquest will be merged into DREAMTECH. Uniquest Corporation shareholders will receive 0.924792 shares of DREAMTECH for each share they held in the company.
Transaction is subject to shareholders approval. As of September 20, 2023, the planned date of merger registration and End Report General Meeting changed to October 4, 2023. The listing of new shares are expected on October 23, 2023.
Both Uniquest and DREAMTECH will maintain their status as listed corporations on Korea Exchange even after the spin-off merger. The merger date is October 1, 2023.
Dreamtech Co Ltd is Korea-based company mainly engaged in the manufacture and sale of electronic modules. The Company operates its business through three segments. The Information Technology (IT) and Mobile Communications (IMC) Business segment is mainly involved in the production and sale of mobile printed board assembly (PBA) modules and display panel modules. The Biometrics, Healthcare and Convergence (BHC) Business segment is engaged in the development, manufacture and sale of fingerprint sensor modules, healthcare and medical device products and convergence products combined with IT. The Automotive Electronics and Sensors (AES) Business segment mainly provides automotive light emitting diode (LED) lamp modules.