Agri Robotech Co., Ltd. announced that it expects to receive KRW 1 billion in funding from Sunjin Co.,Ltd. and another investor
November 10, 2021
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Agri Robotech Co., Ltd. announced that it will issue 200,000 shares at an issue price of KRW 5,000 per share for gross proceeds of KRW 1,000,000,000 through capital increase method on November 11, 2021. The transaction has been approved by the board of directors of the company. The transaction will include participation from returning investor Sunjin Co.,Ltd. for 180,000 shares for gross proceeds of KRW 900,000,000 and Young-hwa Ham for 20,000 shares for gross proceeds of KRW 100,000,000. After the completion of the transaction, Sunjin Co.,Ltd. will hold 84.93% stake in the company.
SUNJIN CO., LTD. is a Korea-based company engaged in the manufacturing of formula animal feeds and processed meat. The Company operates its business through two segments: animal feed segment and processed meat segment. Its animal feed segment is involved in the manufacture and distribution of formula feeds and feedstuffs for pigs, chickens, dogs and cattle. Its processed meat segment is involved in the provision and distribution of pork. The Company's clients include Hyundai Department Store, Lotte Department Store and Homeplus. The Company mainly distributes its products within domestic market.
SUNJIN CO.,LTD. 
