Isu Petasys Hunan Limited announced that it expects to receive KRW 13.9272 billion in funding from ISU Petasys Co., Ltd.
November 07, 2019
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Isu Petasys Hunan Limited announced that it will issue 300,000,000 shares at a price of KRW 46.424 per share for gross proceeds of KRW 13,927,200,000 on November 8, 2019. The transaction will include participation from existing investor ISU Petasys Co., Ltd. (KOSE:A007660). Upon closing, the investor will own 720,647,089 shares representing 99.59% stake. The transaction will take place through third party allocation. The transaction has been approved by the board of directors of the investor. The expected payment date is November 14, 2019.
ISU PETASYS Co., Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of printed circuit boards (PCBs). The Companyâs main products are PCBs, which are used in telecommunication systems, super computers, data centers, aerospace areas and others. It also provides integrated circuit (IC) testers, chip-on-board (COB) PCBs used in video systems and flash memory products and others. The Company distributes its products within domestic market and to overseas markets. On November 4, 2013, the Company acquired a 60% stake in Kingboat Technology Limited, engaged in the manufacturing of printed circuit board.
ISU PETASYS CO., LTD. 
