[E-Daily Reporter Shin Ha-yeon ] RYUK-IL C&S., Ltd(191410)is securing cash through the sale of a subsidiary to invest in new businesses and enhance shareholder value.

RYUK-IL C&S., Ltd. announced on the 9th that it has signed an agreement to sell its entire stake in CNA, a wholly-owned subsidiary, to J&Pitch Co., Ltd., a special purpose company (SPC), for 14.5 billion won. This represents 25.89% of its total assets.

CNA is a chemical materials specialist acquired by RYUK-IL C&S., Ltd in 2022 that manufactures and supplies UV absorbers, PVC composite stabilizers, and curing agents.

According to the company, the down payment has been made and due diligence is largely complete; once the balance is paid, it is expected to secure more than 20 billion won in available cash.

RYUK-IL C&S., Ltd plans to prioritize investing the secured funds into strengthening the profitability of its existing core businesses, while also accelerating investments in new ventures linked to future industries such as physical artificial intelligence (AI).

The company intends to use this subsidiary sale as an opportunity to accelerate the launch of new businesses, while also reviewing measures to boost its stock price and enhance shareholder value in order to proactively meet the KOSDAQ listing maintenance requirements that took effect on the 1st.

RYUK-IL C&S., Ltd. official stated, “The funds secured from the sale of the subsidiary will serve as a foundation not only for strengthening the fundamentals of our existing businesses but also for new investments aimed at securing future growth engines,” adding, “We will transparently disclose specific business strategies and measures to enhance shareholder value once the sale process is finalized.”