A light controlling apparatus and a transparent display device comprising the same are discussed, in which picture quality can be prevented from being deteriorated by a voltage drop. The light controlling apparatus can include a first base film including a first lower pad arranged at a first side edge on one surface and a second lower pad arranged at a second side edge on the one surface; a second base film including a first upper pad arranged at a third side edge on one surface facing one surface of the first base film and a second upper pad arranged at a fourth side edge on the one surface; and a flexible circuit board including driving voltage lines electrically connected with the first and second lower pads and common voltage lines electrically connected with the first and second upper pads.