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APR to Absorb Wholly-Owned Subsidiary APR Factory

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Skincare and cosmetics brand APR (KRX:278470) plans to absorb its wholly owned subsidiary APR Factory in a merger that aims to improve financial and operational performance, according to a Wednesday filing with Korea Exchange.

APR will be the surviving entity, while APR Factory will be dissolved. There will be no new share issuance and no change in APR's largest shareholder, the filing said.

The merger ratio is 1:0, and the transaction is scheduled to be completed on Dec. 31, it said.

Shares of APR fell 2% in recent trade.

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