NF Industries Company Limited announced that it expects to receive KRW 3.329898 billion in funding from N Citron, Inc.
NF Industries Company Limited announced a private placement of 23,286,000 shares at a price of KRW 143 per share for the gross proceeds of KRW 3,329,898,000 on June 14, 2021. The transaction will include participation from returning investor N Citron, Inc. (KOSDAQ:A101400) to retain 100% stake in the company. The transaction has been approved by board of directors of the company. The company will issue shares through a shareholder allocation method.