Mgenplus Co.,Ltd. announced that it expects to receive KRW 2.7 billion in funding from Transgene Bio Co., Ltd.
June 15, 2021
Share
Mgenplus Co.,Ltd. (KOSDAQ:A032790) announced a private placement of 2,700,000 common shares to be issued at KRW 1,000 per share for gross proceeds of KRW 2,700,000,000 on June 15, 2021. The shares have a par value of KRW 500. The transaction will include participation from new investor Transgene Bio Co., Ltd. The company will raise funding through third party allocation increase method. The payment date of the transaction is June 23, 2021. The transaction has been approved by the board of directors of the company. The shares will be subject to a hold period of one year.
Mgen Solutions Co Ltd, formerly BNGT Co Ltd, is a Korea-based company engaged in the manufacture and sale of printer cartridge parts. The Company operates its business through five segments. The Developing Machine Business segment is engaged in the manufacture and sale of printer cartridge parts. The Broadband Convergence Network (BcN)/Artificial Intelligence (AI) Business segment is engaged in the operation and build of broadband self-communication network. The Segment is also engaged in the provision of artificial intelligence image analysis solutions. The Communication Network Business segment is engaged in the provision of information technology services related to smart homes and the Internet of Things (IoT). The Bio Business segment is engaged in the development of organs for transplantation. The Other Business segment is engaged in the sale of medical devices.
MGEN SOLUTIONS CO., LTD. 
