APR Co., Ltd. (278470) approved a merger with its manufacturing subsidiary APR Factory on Wednesday. Dailian reported the filing the same day.
APR owns 100% of APR Factory. The merger will issue no new shares and uses a ratio of one to zero. The parties plan to sign the merger agreement on September 16. The effective merger date is December 31. APR said its ownership structure will not change after the transaction.
The parent will absorb the subsidiary and remain as the surviving company. The company's market capitalisation was ₩13.8 trillion at Wednesday's close.
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| Symbol | Last Price |
|---|---|
| 278470APR Co., Ltd. | ₩368,500 -2.3% |