Abpro Bio Co., Ltd. announced that it expects to receive KRW 19.999997712 billion in funding
August 26, 2019
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Ugint CO., Ltd. (KOSDAQ:A195990) announced a private placement of 14,064,696 common shares at a price of KRW 1,422 for gross proceeds of KRW 19,999,997,712 on August 27, 2019. The company will issue shares through third party allotment method. The common shares have a face value of KRW 500 per share, and will be issued at premium. The transaction will include participation from IAN CHAN for 7,032,348 shares and EUGENE CHAN for 7,032,348 shares. The total number of issued shares of the company before the transaction are 162,699,049. All securities to be issued will be 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 October 31, 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.