Smark Co.,Ltd announced that it expects to receive KRW 5 billion in funding from GB Boston Venture Capital
August 28, 2017
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Smark Co.,Ltd (KOSDAQ:A030270) announced a private placement of 5,086,470 shares at a price of KRW 983 for gross proceeds of KRW 5,000,000,010 on August 29, 2017. The transaction will involve participation from GB Boston Venture Capital. The common shares will be issued at a premium by a way of third party allotment. The common shares will be subject to a lock up period of 12 months. The transaction is expected to be completed within 7 days after the date of the extraordinary general meeting of shareholders (scheduled to be announced later), and the due date, the distribution date, and the due date for the listing will be re-announced if the date of the extraordinary shareholders' meeting is decided. The transaction has been approved by the board of directors of the company.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
