NVT Sells Remaining Stake in Chinese 'Kuha' Worth $3 Million... "Investment Return Up 50%"

[Asia Economy Reporter Hyunseok Yoo] KOSDAQ-listed company NBTC has realized an investment gain exceeding 50% of the principal by selling all remaining shares of Coohua Holdings Inc. (hereafter Coohua), a company invested in China.

NBTC announced on the 5th that it sold all 4,761,905 preferred shares of Coohua it held to local investors in China. The total sale amount was approximately 3 million USD (about 3.45 billion KRW). After deducting taxes and public charges under overseas tax laws, NBTC is expected to receive about 3 billion KRW in cash. Previously, in May, NBTC sold about 25% of Coohua's common shares for 2.54 million USD (about 2.84 billion KRW).

NBTC initially invested approximately 3.6 million USD in 2014 to enter the Chinese market with its lock screen mobile advertising service by acquiring shares in Coohua. This year, NBTC's final exit amount from Coohua, including taxes, totaled 5.54 million USD (about 6.29 billion KRW), realizing a gain exceeding 50% of the principal.

The company explained that the investment in Coohua was aimed at building business infrastructure within China. Since it no longer held special significance beyond a simple investment purpose at present, they judged this to be an appropriate time to realize profits. Furthermore, NBTC added that it plans to maintain a good relationship with Coohua, with which it has continued a partnership as an affiliate company.

An NBTC representative stated, “Aside from this, the ongoing business operations in China will continue smoothly centered on the local consulting corporation ‘NBTC Beijing.’ Regarding plans for utilizing the secured funds, nothing has been concretely decided yet, and we are currently considering various matters based on expanding profitable businesses both domestically and internationally.”

This content was produced with the assistance of AI translation services.