Crown F&B Co., Ltd. announced that it expects to receive KRW 60.198 billion in funding from Kginicis Co.,Ltd
October 21, 2020
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Crown F&B Co., Ltd. announced private placement of 199,000 common stock at a price of KRW 302,502.512563 for the gross proceeds of KRW 60,198,000,000 on October 22, 2020. The transaction will include participation from Kginicis Co.,Ltd (KOSDAQ:A035600) to retain its 100% stake in the company. The transaction was approved by the board of directors of Kginicis Co.,Ltd (KOSDAQ:A035600). The transaction is expected to close on October 26, 2020.
KGINICIS CO.,LTD is a Korea-based company engaged in the provision of online payment gateway (PG) services. The Company provides secure PG solutions through cryptographic authentication, data protection and electronic signature technologies. The Company provides payment services under the brand name of INIpay. The Company offers a comprehensive line of payment services through credit cards, debt cards, purchasing cards, electronic fund transfer processing, gift cards, loyalty cards, stored value cards, point-of-sale equipment, merchant accounting and others. It has partnerships with online shopping malls, telecommunication carriers, public institutions and others.
KGINICIS CO.,LTD 
