YapX "Largest shareholder stake increased from 6.6% to 18.16%... Strengthening management control"
[Asia Economy Reporter Jang Hyowon] YapX, a KOSDAQ-listed company, changed the target of its 15 billion KRW third-party allotment paid-in capital increase scheduled for the 30th from YapX Holdings to the current largest shareholder JW Future Technology Company. The strategy is to establish a stable business system by strengthening management rights through expanding the largest shareholder's stake.
On the 30th, YapX announced through a public disclosure that it plans to issue approximately 12,244,897 new shares to the current largest shareholder JW Future Technology Company. After the capital increase, the largest shareholder JW Future Technology Company's stake will increase nearly threefold from the existing 6.6% to 18.16%. The payment date for the capital increase has been postponed to the upcoming 15th.
JW Future Technology Company is a technology-intensive consulting firm led by CEO Choi Simyeong, who currently serves as the CEO of YapX.
Since acquiring YapX in August, JW Future Technology Company has been actively involved in management. In line with enhancing synergies with the existing core manufacturing competitiveness, it has focused on increasing profitability by strengthening competitiveness in OLED materials and RFID (Radio Frequency Identification) sectors. Additionally, it has pursued new businesses such as ▲acquisition of Technium, a precision chemical materials specialist ▲entry into domestic and international Internet of Things (IoT) new businesses ▲acquisition of GS Payment, a payment gateway company.
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Choi Simyeong, CEO of YapX, stated, “While pursuing diversified businesses, we adjusted the complex interests involved in some funding processes and ultimately strengthened the largest shareholder’s stake to establish a stable structure, which we believe will further enhance market trust. Based on sales diversification including quantum dot displays (QD), organic light-emitting diode (OLED) materials, and anode binders that extend the lifespan of secondary batteries, we are at a turning point of positive change securing better business competitiveness. We ask for your encouraging support.”
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