SBB Tech Co., Ltd. announced that it expects to receive KRW 6.733494838 billion in funding from Korea Parts & Fasteners Co.,Ltd
September 16, 2018
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SBB Tech Co., Ltd. announced that it issue 115,867 redeemable convertible preferred shares at a price of KRW 58,114 per share for gross proceeds of KRW 6,733,494,838 on September 17, 2018. The transaction will include participation from Korea Parts & Fasteners Co.,Ltd (KOSDAQ:A024880). The transaction is expected to close on October 15, 2018. The transaction has been approved by the board of directors of the company. The company reported total assets of KRW 16,926,000,000, total common equity of KRW 8,257,000,000, revenue of KRW 9,014,000,000 and net income of KRW 268,000,000 for the year ended December 31, 2017.
Korea Parts & Fasteners is a Korea-based company engaged in the manufacturing and distribution of bolts, nuts and other forging products. The Companyâs products portfolio consists of high torque (H/T) bolts, tensile control (T/C) bolts, structural bolts and couplings, which are used in construction works; heavy hex bolts, heavy hex nuts and stud bolts, which are used in petrochemical plants; flange nuts, flange screws, castle nuts, cylinder head bolts and others, which are used in heavy equipment; bearing inner and outer races, gear blanks, pinion gears and others, which are used for automobiles, as well as foundation anchor bolts, barrel nuts and others, which are used in wind power plants. The Company also involves in the building leasing business.
KOREA PARTS & FASTENERS CO.,LTD 
