Noroo Automotive Coatings CO., Ltd. announced that it expects to receive KRW 49.311030852 billion in funding from NOROO Holdings Co., Ltd.
September 13, 2022
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Noroo Automotive Coatings CO., Ltd. announced a private placement of 4,040,563 common shares at a price of KRW 12,204 per share for gross proceeds of KRW 49,311,030,852 to returning investor NOROO Holdings Co., Ltd. on September 14, 2022. The transaction is expected to close on November 1, 2022. The transaction is approved by board of directors of the company.
The investor will invest for 8.45% stake in the company.
NOROO HOLDINGS CO., LTD. is a Korea-based holding company engaged in the management of its subsidiaries. The Companyâs main subsidiaries consist of NOROO PAINT CO., LTD., which is engaged in the manufacturing of industrial coatings; NOROO Chemicals Co., Ltd., which is engaged in the manufacturing of construction coatings, unsaturated polyester resins (UPRs) and others; NOROO Automotive Coatings Co., Ltd., which is engaged in the manufacturing of automobile coatings and others; IPK CO., LTD., which is engaged in the manufacturing of paints for vessels and heavy-duty purposes; NOROO Bee Chemical Co., Ltd., which is engaged in the manufacture of plastic paints for motors or home appliances, among others. On January 15, 2014, the Company acquired a 100% stake in NOROO KIBAN CO., LTD., engaged in the processing, distributing and sale of agricultural products.
NOROO HOLDINGS CO., LTD. 