Teampal (S) Pte. Ltd. announced that it will issue 10,000,000 shares for gross proceeds of $988,641 on August 26, 2019. The transaction includes participation from existing investor, Serial System Ltd (SGX:S69) for 200,000 shares at issue price of $2.493205 per share for gross proceeds of $498,641 and new investor, Unitrontech Co., Ltd. (KOSDAQ:A142210) for 9,800,000 shares at issue price of $0.05 per share for gross proceeds of $490,000.

Post-closing of the transaction, the stake of Serial System Ltd (SGX:S69) will reduce from 100% to 51% and Unitrontech Co., Ltd. (KOSDAQ:A142210) will take 49% stake in the company. The paid up share capital of the company will increase from $653,694 to $1,000,000 post-closing of the transaction.