Skin n Skin Co., Ltd. announced that it expects to receive KRW 7.999999826 billion in funding from IP Plus Co., Ltd., Cheongju Passenger Terminal Co., Ltd.
May 06, 2020
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Skin n Skin Co., Ltd. (KOSDAQ:A159910) announced a private placement of 26,845,637 common shares of par value KRW 100 at a price of KRW 298 for gross proceeds of KRW 7,999,999,826 on May 6, 2020. The transaction will include participation from Cheongju Passenger Terminal Co., Ltd which will purchase 20,134,228 common shares and IP Plus Co., Ltd. which will purchase 6,711,409 common shares. The date of payment of shares is June 5, 2020. The transaction has been approved by the board of directors of the company. The securities that are being issued are subject to a lock up period of 12 months. Prior to the transaction, total number of shares issued are 139,052,735 shares.
Skin N Skin Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of cosmetics. The Company operates business through two segments. The Beauty segment is mainly engaged in the manufacture and sale of cosmetics and apparel. The Product Distribution Business segment is engaged in the distribution of masks.
Skin n Skin Co., Ltd. announced that it expects to receive KRW 7.999999826 billion in funding from IP Plus Co., Ltd., Cheongju Passenger Terminal Co., Ltd.