Fine besteel. Co., Ltd. (KOSE:A133820) signed a contract to acquire Nexus Gas Co., Ltd. for KRW 3.9 billion on June 7, 2023. As reported, Fine besteel.

Co., Ltd. will acquire 30,000 shares in Nexus Gas Co., Ltd. for cash payment and issuance of convertible bonds. Out of the acquisition price of KRW 3.9 billion, KRW 1.17 billion for the first 9,000 shares will be paid in cash within 5 business days from the date of signing the contract, and KRW 1.56 billion for the second 12,000 shares will be paid in cash as Convertible bonds are issued and paid within 3 months from the date of signing the contract. KRW 1.17 billion for the third 9,000 shares will be paid within one year from the date of this transaction.

For the year ended 2022, Nexus Gas Co., Ltd. reported total assets of KW 1,513 million, total capital of KRW 1,464 million, sales of KRW 669 million and net loss of KRW 459 million. The expected acquisition date is June 7. 2024, when the third installment of the acquisition price will be paid.