UPI International Co., Ltd. announced that it has received KRW 3.5 billion in funding from Smark Co.,Ltd, GB Boston Venture Capital
August 28, 2017
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UPI International Co., Ltd announced a private placement of common shares of gross proceeds of KRW 3,500,000,000 on August 29, 2017. The transaction included participation from GB Boston Venture Capita. The company is expected to receive KRW 6,500,000,000 from Smark Co.,Ltd (KOSDAQ:A030270). The company will issue 2,000,000 shares pursuant to the transaction. The transaction will be completed on the 3rd day from the extraordinary meeting of shareholders of Smark Co.,Ltd (KOSDAQ:A030270), the date of which has been changed.
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. 
