Ugint CO., Ltd. announced that it expects to receive KRW 14.322 billion in funding
July 10, 2019
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Ugint CO., Ltd. (KOSDAQ:A195990) announced a private placement of 22,000,000 shares at a price of KRW 651 for gross proceeds of KRW 14,322,000,000 on July 11, 2019. The company will issue shares through third party allotment method. The common shares have a face value of KRW 500 per share, and are being issued at premium. The transaction will include participation from Aug 1 Fund. All securities issued are subject to a hold period of one year. The transaction has been approved by the board of directors. The payment date of the transaction is August 23, 2019.
Abpro Bio Co., Ltd., formerly Ugint Co., Ltd., is a Korea-based company engaged in machine tools manufacturing. The Company produces and distributes small sized machining centers for notebooks, smart phones, tablet personal computers, mobile phones, base plates, light emitting diode (LED) and light crystal display (LCD) television panels, automobile parts, motorbikes parts and aircraft parts. The Company also engages in original equipment manufacturing business (OEM). The Company operates its business within domestic markets and foreign markets such as China and Europe countries.