CNPLUS Co., Ltd. announced that it expects to receive KRW 999.99 million in funding
February 05, 2018
Share
CNPLUS Co., Ltd. (KOSDAQ:A115530) announced a private placement of 273,220 common shares at an issue price of KRW 3,660 per share for gross proceeds of KRW 999,985,200 on February 5, 2018. The company will issue shares through third party allotment method. The transaction will involve participation from new investors Sangkwon Lee for 81,964 shares, Jinwook Yang for 54,644 shares, and Hyunbo Sim for 136,612 shares. The transaction is expected to close on February 13, 2018. The shares have face value of KRW 500 and will be issued at a premium. The securities are subject to a hold period of one year. The transaction has been approved by the board of directors of the company.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
