CNPLUS Co., Ltd. announced that it expects to receive KRW 5.00000013 billion in funding
September 10, 2019
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CNPLUS Co., Ltd. (KOSDAQ:A115530) announced a private placement of 21,739,131 common shares at an issue price of KRW 230 per share for gross proceeds of KRW 5,000,000,130 on September 11, 2019. The transaction will include participation from INS LED Co., Ltd. The company will issue shares through third party allotment method. The shares have face value of KRW 100 and will be issued at a premium. The shares issued will be subject to a hold period of one year. Post completion of the transaction, the number of shares will increase from 42,681,681 shares to 64,420,812 shares. The transaction is expected to close on September 24, 2019. The transaction has been approved by the board of directors of the company.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
