ALPINION Medical Systems Co., Ltd. announced that it expects to receive KRW 20 billion in funding from ILJIN Holdings Co., Ltd.
December 12, 2017
Share
ALPINION Medical Systems Co., Ltd. announced a private placement of 5,778,677 common shares at a price of KRW 3,461 per share for gross proceeds of KRW 20,000,001,097 on December 13, 2017. The transaction will involve participation from existing investor ILJIN Holdings Co., Ltd. (KOSE:A015860). The shares will be issued by a way of third party allotment. The shares will be issued on par. The transaction is expected to close on December 28, 2017. Post the closing of the transaction, the total number of shares issued by the company will increase from 62,193,438 shares to 67,972,115 shares. The transaction has been approved by the board of directors of the investor.
ILJIN Holdings Co., Ltd. is a Korea-based holding company engaged in the management of its subsidiaries. Its subsidiaries include ILJIN ELECTRIC CO.,LTD, engaged in the provision of electric products, such as power transmissions, power transformation systems, power systems, power cables and others; ILJIN DIAMOND CO., LTD., engaged in the manufacture of diamonds, cutting tool materials and hard metals; ILJIN DEVELOPMENT COMPANY CO.,LTD, mainly engaged in the leasing of real estate and management of facilities; ITEK INVESTMENT CO., LTD., engaged in the financial business; JEONJO TELEVISION CO., LTD., engaged in the broadcasting business, and Alpinion Medical Systems Co., Ltd., engaged in the manufacture of medical equipment, such as ultrasound equipment and other transducer equipment.
ILJIN HOLDINGS CO.,LTD. 
