Kunjang Energy

Samkwang Glass announced a merger with ITEC Construction and Kunjang Energy to form a comprehensive energy company. The merger ratio is 1:2.57:1.71 per share. The extraordinary general meeting is set for September 29, 2020, with the merger expected to be completed by the end of October 2020.

Samkwang Glass, E-Tech Construction, and Kunjang Energy have resolved to merge their investment divisions, with Samkwang Glass absorbing Kunjang Energy and merging with E-Tech Construction's investment division, forming a holding company. The merger is subject to shareholder approval on May 14, 2020.