[Alpha Biz=(Chicago) Reporter Paul Lee] KG ETS announced on the 18th that it decided to merge with its subsidiary KG Steel Holdings.

The merger ratio between KG ETS and KG Steel Holdings is 1 to 169.61. KG ETS will survive, and KG Steel Holdings will disappear.

The purpose of the merger is △simplification of governance structure and transparency △ improvement of management efficiency and competitiveness △ Maximization of shareholder value △ resolution of holding company limitations. The date of merger is March 19th next year.

As a result, the KOSDAQ market headquarters of the Korea Exchange suspended trading of KG ETSs from 5:34 p.m. The reason is to check whether it is listed by detour and to meet the requirements. The expiration date is due on the notification date of whether it is listed by detour.

 

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