KGINICIS Decides to Indirectly Acquire 100% of K Car Capital for 200 Billion KRW via Subsidiary to Expand Business Portfolio
KGINICIS initially signed a contract on April 21, 2026 to acquire 5,123,224 shares of K Car Capital from Han & Co Auto Service Holdings for approximately 200 billion KRW, but later on June 23 transferred the buyer status to its subsidiary KG Capital Holdings, making it an indirect acquisition.
This decision aims to expand the business portfolio and received a fair opinion from external appraiser SaeRo Accounting Corporation. The target, K Car Capital, operates in credit card and installment financing and recorded a net profit of 13.1 billion KRW in the most recent fiscal year.
The acquisition amount represents 26.38% of KGINICIS's equity and 10.07% of total assets. The indirect structure avoids direct share dilution, but the subsidiary's financing method may impact consolidated financial statements. The transaction is subject to Korea Fair Trade Commission merger notification. No shareholder return policies or treasury stock actions were disclosed.
[AI Summary]KGINICIS's indirect acquisition of K Car Capital for 200 billion KRW through its subsidiary involves a significant capital outlay but no share dilution. The purpose of business diversification is rated positively, and the counterparty credit is moderate. Overall, a neutral stock price impact is expected.
KOSDAQ Filing Information
[Correction of Description] Report on Major Events (Decision to Acquire Stocks and Investment Securities of Other Corporation)