Lutronic Corporation (KOSDAQ:A085370) signed a contract to sell 4.11% stake in Kang Stem Biotech Co., Ltd. for KRW 2.4 billion on May 7, 2015. Under the terms of the transaction, Lutronic will sell 0.3 million shares of Kang Stem Biotech. On completion, Lutronic will hold 1.66 million shares in Kang Stem Biotech Co., Ltd. The deal was resolved by the Board of Directors of Lutronic on May 7, 2015. The deal is expected to complete on May 7, 2015.

Lutronic Corporation (KOSDAQ:A085370) cancelled the sale of 4.11% stake in Kang Stem Biotech Co., Ltd. on May 7, 2016.