Hojeon Limited (KOSE:A111110) agreed to acquire an additional 30.22% stake in PT. YONGJIN JAVASUKA GARMENT for KRW 12.5 billion on June 12, 2024. A cash consideration of KRW 12.51 billion will be paid by Hojeon Limited for 54,425 shares.

For the period ending December 31, 2023, PT. YONGJIN JAVASUKA GARMENT reported total revenue of KRW 18.88 billion and net loss of KRW 6.67 billion. As of December 31, 2023, PT.

YONGJIN JAVASUKA GARMENT reported total debt of KRW 74.42 billion, total assets of KRW 84.98 billion and total common equity of KRW 46.43 billion. The expected completion of the transaction is June 14, 2024.