SBI Cosmoney Co., Ltd. announced that it expects to receive KRW 3 billion in funding from SBI FinTech Solutions Co., Ltd.
February 14, 2019
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SBI Cosmoney Co., Ltd. announced a private placement of 600,000 common shares at an issue price of KRW 5,000 per common share for gross proceeds of KRW 3,000,000,000 on February 14, 2019. The transaction will include participation from existing investor SBI FinTech Solutions Co., Ltd. (KOSDAQ:A950110). On closing, the investor will hold a total number of 1,360,000 shares in the company and the stake will increase from 95% to 97.14% The common shares will be issued at par having a face value of KRW 5,000. The company will issue 0.75 new share as per one existing share. The payment date id February 25, 2019. The transaction has been approved by board of directors of SBI FinTech Solutions Co., Ltd. (KOSDAQ : A950110).
SBI FinTech Solutions Co Ltd is a Japan-based comprehensive fintech solutions company that operates payment service business, software as a back-office service (SaaS) business, and international remittance business. The Company operates in three business segments. The Payment Service segment is engaged in the provision of online payment service, terminal payment service for stores, and various financial services centered on factoring. The Back-Office SaaS segment is engaged in the provision of back-office support services such as the cloud-based invoice management system SEIKYU QUICK, the expense settlement system KEIHI BANK, and the approval system SHONIN TIME, as well as security service. The International Remittance segment is engaged in the provision of international remittance services.
SBI FINTECH SOLUTIONS CO., LTD. 
