Smark Co.,Ltd announced that it expects to receive KRW 6.99999888 billion in funding
December 21, 2016
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Smark Co., Ltd. (KOSDAQ:A030270) announced private placement of 3,278,688 shares at a price of KRW 2,135 per share for gross proceeds of KRW 6,999,998,880 on December 22, 2016. The transaction will include participation from Lee Hee-un for 1,405,152 shares and Unibest for 1,873,536 shares. The company will issue shares at a premium to par value of KRW 500 per share through third party allotment method. The number of shares will increase from 40,620,892 shares to 43,899,580 shares. The shares issued are subject to lockup period of 1 year. The transaction has been approved by the board of directors of the company. The expected payment date is January 24, 2017.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
