BYON Co., Ltd. announced that it expects to receive KRW 2.999999085 billion in funding from Mirae Cell Bio Co., Ltd.
April 11, 2018
Share
BYON Co., Ltd. (KOSDAQ:A032980) announced a private placement of 881,057 common shares at an issue price of KRW 3,405 for gross proceeds of KRW 2,999,999,085 on April 12, 2018. The transaction will involve participation from Mirae Cell Bio Co., Ltd. The shares will be issued at a premium and through third party allotment method. The transaction is expected to close on May 11, 2018. Post the closing of the transaction, the shares issued by the company will increase from 43,238,817 to 44,119,874. The shares issued in the transaction are subject to a lock up period of one year. The transaction was approved by the board of directors the company.
BYON Co., Ltd., formerly Polyvision Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of industrial materials. The Company operates its business through three segments. Its Industrial Material segment manufactures tarpaulins, banner flexes and polyvinyl chloride (PVC) flooring materials, which are used for truck covers, roof covers, billboards, flags, container bags and house decoration tiles. Its Overseas Resources Development segment explores copper and molybdenum. Its Bio Medical segment sells medicines and medical equipment. The Company distributes its products within domestic market and to overseas markets.
BYON CO., LTD. 
