Helios Private Equity will buy a majority stake in chip test socket firm ISC for 148.5 billion won.

ISC said Monday that it will sell 31.75% stake (5.16 million shares) to the private equity.

The stakes are owned by three people including single largest shareholder chairman Chung Young-bae.

The shares will be transferred on July 5. MG Community Credit Cooperatives and another major institutional investor are also limited partners in the deal, ISC said.

Chung will maintain a stake of around 10% after the sales, people familiar with the matter said. He will likely remain a chairman of the board and inside director at ISC, and co-manage the firm will Helios.

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