KNW Co., Ltd. announced that it expects to receive KRW 49.99999004 billion in funding from BGFecomaterials CO., LTD.
May 24, 2023
Share
KNW Co., Ltd. announced a private placement of 3,924,646 common shares at a price of KRW 12,740 per share for the gross proceeds of KRW 49,999,990,040 on May 25, 2023. The transaction will include participation from new investor BGFecomaterials CO., LTD. for 3,924,646 shares. The common shares have a lock up period of 12 months.
The shares are allotted through third party allocation method. The transaction has been approved by the shareholders of the company. The expected date of acquisition is August 25, 2023.
BGFEcomaterials Co Ltd, formerly Kopla Co Ltd, is a Korea-based company engaged in the manufacture and sale of high functional polymer materials. The Company's products include polyamide (PA) 66, PA6, polybutylene terephthalate (PBT), polycarbonate (PC), polyethylene terephthalate (PET), polypropylene (PP) and acrylonitrile butadiene styrene (ABS). Its products are applied in automobile components, such as engine head covers, transmissions, radiator tanks, electrical components and others; electrical and electronic components, such as cable ties and bobbins, and other industrial products, such as furniture, sports goods, electronic tools and others. The Company distributes its products within domestic market and to overseas markets.
BGFECOMATERIALS CO., LTD. 
