[DISCLOSURE]
Robostar (090360) announced on May 29 that its largest shareholder will change to
LG Electronics (066570) as previous largest stakeholder Kim Jeong-ho and one other have signed a contract to sell their 977,735 shares (12.54 percent stake) to the company at 25.8 billion won (US$23.84 million).
The due date for transaction is July 17.
It will also issue 1.95 million shares and offer to LG Electronics for a 53.6 billion won capital raise to finance operations, the company said in a separate announcement.
By Hwang You-mee (
glamazon@heraldcorp.com)