Zest C&T Co., Ltd. announced that it expects to receive KRW 2 billion in funding from Moda Inc., HanbitSoft, Inc.
January 09, 2018
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Zest C&T Co., Ltd. announced a private placement of 400,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 2,000,000,000 on January 10, 2018. The transaction will involve participation from new investors Moda Inc. (KOSDAQ:A149940) and HanbitSoft, Inc. (KOSDAQ:A047080) for 200,000 shares each. Post the closing of the transaction, the investors will hold 25% stake each in the company. The transaction for the investor HanbitSoft, Inc. (KOSDAQ:A047080) is expected to close on January 17, 2018, for Moda Inc. (KOSDAQ:A149940) is expected to close on January 24, 2018. The transaction was approved by the board of directors of the investors. The shares will be issued by 3rd party allocation.
On January 17, 2018, the company announced that HanbitSoft, Inc. (KOSDAQ:A047080) will invest by January 22, 2018 in the transaction.
On January 22, 2018, the company announced that HanbitSoft, Inc will invest in the company by January 24, 2018.
Moda Inc., formerly Modacom Co., Ltd. is a Korea-based company mainly engaged in the manufacture of wireless communication equipment. The Company produces wireless data communication terminals, including long term evolution (LTE) products, wireless broadband (WiBro) mobile routers, Wibro customer premise equipment (CPE), WirBro universal serial bus (USB) dongles, WiBro machine to machine (M2M) modules, WiBro express cards and others. It also engages in the development of software. The Company distributes its products within domestic market and to overseas markets.
MODACOM CO LTD 
