Korea Refractories Co., Ltd announced that it expects to receive KRW 75.99932025 billion in funding from KNX Co.,Ltd.
February 25, 2021
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Korea Refractories Co., Ltd (KOSE:A010040) announced a private placement of 18,203,430 common shares at an issue price of KRW 4,175 per share for gross proceeds of KRW 75,999,320,250 on February 26, 2021. The transaction will include participation from KNX Co.,Ltd. The share has a face value of KRW 500 per share. The company will issue shares using third party allocation method. The transaction has been approved by the board of directors of the company. The transaction has a payment date of April 12, 2021.
KOREA REFRACTORIES.CO.,LTD is a Korea-based company engaged in the provision of refractories. The Company operates its businesses in three business segments: refractory segment, which provides shared refractories, including special high alumina bricks, fire clay bricks, unburned bricks, acid proof bricks, cordierite bricks, insulating fire bricks, unburned magnesia bricks and other, monolithic refractories, including castables refractories, plastic refractories, mortar and others, and non-ferrous metal powders; aluminum segment, which provides aluminum alloy and aluminum dross, and construction segment, which constructs industrial facilities, such as industrial furnaces and shaft furnaces.