US aerospace giant Boeing Co will buy 19.2 billion won ($19.96 million) worth of new shares in South Korean communication equipment maker Huneed Technologies, Huneed said on Monday.
The 16.5 million shares to be placed to Boeing represent 17.4 percent of Huneed, a licensed provider of military communication systems to the South Korean army, according to Reuters calculations. That would make Boeing the second-biggest shareholder in the South Korean firm, next to the company's current management.
The purchase would be settled in late September and listed on the stock exchange a month later, Huneed told the Korea Exchange in a filing.