Orbitech Co., Ltd. announced that it expects to receive KRW 5.000002965 billion in funding
December 07, 2020
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Orbitech Co., Ltd. (KOSDAQ:A046120) announced a private placement of 1,177,857 common shares at an issue price of KRW 4,245 per share for gross proceeds of KRW 5,000,002,965 on December 8, 2020. The transaction will involve participation from Sungjin Holdings Co. , Ltd. The shares have face value of KRW 500. The shares are issued at a premium of 10%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 23,790,573 shares to 24,968,430 shares. The payment date is March 26, 2021. The transaction has been approved by the board of directors of the company.
Orbitech Co., Ltd., formerly Korea NonDestructive Testing Co., Ltd., is Korea-based company engaged in the provision of nondestructive testing (NDT) and other services. The Company operates in four categories of businesses: NDT business, which provides NDT services for gas pipes, oil pipes, power plants, ships, bridges, buildings, vessel and tanks; nuclear energy business, which provides radiation-related services, such as radiation management, radiation protection and decontamination, and wastes management services for facilities and utilities; environment business, which provides process development services and analysis services, such as soil, water and marine waste analysis services, and in-service inspection (ISI) business, which provides ISI services used in nuclear power plant sector.
ORBITECH CO., LTD. 
