COSMOTECH Co., Ltd. announced that it expects to receive KRW 7 billion in funding from ABCO Electronics Co., Ltd.
July 19, 2018
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COSMOTECH Co., Ltd. announced that it has entered into an agreement for a private placement of 14,000,000 common shares at a price of KRW 500 per share for the gross proceeds of KRW 7,000,000,000 on July 20, 2018. The transaction will include participation from new investor, ABCO Electronics Co., Ltd. (KOSDAQ:A036010). The transaction is expected to close on August 24, 2018. The transaction was approved by board of directors of the investor. The company reported total assets of KRW 40,681,000,000, total liabilities of KRW 93,368,000,000, net assets of KRW -52,687,000,000, total capital of KRW -52,687,000,000, capital of KRW 23,021,000,000, sales of KRW 82,228,000,000, and net profit or KRW -14,711,000,000 on December 31, 2017.
ABCO ELECTRONICS CO., LTD is a Korea-based company engaged in the manufacturing of inductors and resistors. The Company's products consists of chip inductors, including signal inductors, common mode filters and surface mounted device (SMD) power inductors; lead inductors, including lead power inductors and others, as well as resistors, including chip resistors, lead resistors and others. The products are mainly used in portable information communication devices such as mobile phones, notebook personal computers (PCs) and others; digital audio and visual (AV) equipment such as light-emitting diode (LED), liquid crystal display (LCD), plasma display panel (PDP) televisions, digital cameras and others, as well as multi-media products and household appliances.
ABCO ELECTRONICS CO., LTD. 
