Hwajin Co., Ltd. announced that it expects to receive KRW 25 billion in funding from Samra Midas Group
April 28, 2020
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Hwajin Co., Ltd. (KOSDAQ:A134780) announced a private placement of 50,000,000 common shares at a price value of KRW 500 per share for gross proceeds of KRW 25,000,000,000 on April 29, 2020. The shares have a face value of KRW 500 per share. The transaction will include participation from existing investor Samra Midas Group. The company expects to close the transaction on May 4, 2020. The transaction has been approved by the company’s board of directors.
SM Hwajin Co Ltd, formerly HWAJIN Co., Ltd., is a Korea-based company mainly engaged in the manufacture and sale of automobile interior components. The Company's products portfolio consists of wood grain products used for steeling wheels, rear switches, plate consoles, knob outers, keyboards, rear cases and others, and ion plasma evaporation (IPE) products used as painting and molding products for insert damper knobs, stop and start buttons, indicator cover switch body, wheel decoration rings, bezel covers and others. It also involves in the wholesale of automobile printings through its subsidiary. The Company' s main clients are Hyundai, KIA Motors, Ssangyong Motor, Nissan, Honda, LG Electronics and others. The Company distributes its products within domestic market and to overseas markets.
HWAJIN CO LTD 
