Kolon Materials, Inc. announced that it expects to receive KRW 36.50000115 billion in funding from Kolon Industries, Inc.

Kolon Materials, Inc. (KOSE:A144620) announced a private placement of 14,658,635 common shares at an issue price of KRW 2,490 for gross proceeds KRW 36,500,001,150 on April 24, 2019. The company will raise funding through third-party allotment method. The company will issue shares at a premium having a face value of KRW 1,000.

The payment date is May 2, 2019. All the securities to be issued in the transaction are subject to a one year lock up period. The transaction will include participation from returning investor Kolon Industries, Inc. (KOSE:A120110).