Osung Advanced Materials Co., Ltd. announced that it expects to receive KRW 4.999996804 billion in funding from East burgundy Co., Ltd., Polar Vertex Co., Ltd., The E&M Co., Ltd.
April 04, 2023
Share
Osung Advanced Materials Co., Ltd. announced a private placement of 3,503,852 common shares having a par value of KRW 500 at a price of KRW 1,427 per share for gross proceeds of KRW 4,999,996,804 on April 5, 2023. The transaction will include participation from existing investors, East burgundy Co., Ltd., Polar Vertex Co., Ltd. and The E&M Co., Ltd. through third-party allocation. The transaction has been approved by the board of directors of the company.
The shares to be issued are subject to a hold period of one year. The payment date is on May 10, 2023.
OSUNG ADVANCED MATERIALS CO., LTD., formerly OSUNG LST CO., LTD., is a Korea-based company principally engaged in the manufacture and sale of optical films. The products mainly consist of protective films, functional films, thermal barrier films and others. The Company is also involved in the real estate lease and power generation business.
Osung Advanced Materials Co., Ltd. announced that it expects to receive KRW 4.999996804 billion in funding from East burgundy Co., Ltd., Polar Vertex Co., Ltd., The E&M Co., Ltd.