[Edaily Reporter KIM SAE-MI ] Donga ST(170900)is set to recoup 39.9 billion won—approximately four times its initial investment—about two years and four months after participating in the acquisition of medical device company D&T.

Donga ST announced on the 5th that it has decided to sell 100 million shares of D&T Holding Company, a special purpose acquisition company (SPAC), for 39.9 billion won.

The disposal amount represents 5.94% of the company’s consolidated equity of 671.6 billion won as of the end of last year. Through this transaction, Donga ST will sell its entire stake of approximately 8% in D&T Holding Company. The transaction is scheduled to close on the 30th.

D&T Holding Company is a special purpose company (SPC) established in July 2024 by private equity firm Highland Equity Partners (Highland EP) to acquire the medical device company D&T. At the time, Donga ST participated as a strategic investor (SI), investing 10 billion won in anticipation of business synergies with its subsidiary, Dong-A ChamMed.

Founded in 1999, D&T is a company that manufactures specialized medical monitors used in surgical, diagnostic, and ultrasound equipment. Dong-A ChamMed manufactures otolaryngology treatment devices and medical imaging equipment, among other products.

The proceeds from this sale are approximately 3.99 times the initial investment. The difference between the principal investment and the sale proceeds is 29.9 billion won. However, the actual gain on disposal may vary depending on transaction costs and accounting treatments.

An official from Donga ST stated, “We decided to dispose of the stake to realize investment returns and secure financial liquidity.”

Meanwhile, D&T Holding Company’s revenue last year was 4.9 billion won, and its net income was 557 million won. As of the end of last year, total assets stood at 172.9 billion won, total liabilities at 54.2 billion won, and total equity at 118.6 billion won.