A&F Co., Ltd. announced that it expects to receive KRW 2.9998155 billion in funding from Sung Bo Chemicals Co. Ltd.
December 21, 2021
Share
A&F Co., Ltd. announced a private placement of 71,170 common shares at KRW 42,150 per share for gross proceeds of KRW 2,999,815,500 on December 22, 2021. The transaction will include participation from new investor Sung Bo Chemicals Co. Ltd. for 10.33% stake in the company. The transaction is by way of third party capital increase. The payment date for the shares is expected on December 27, 2021. The shares are subject to a hold period of one year from the date of issue. The transaction has been approved by board of directors of the company.
Sung Bo Chemicals Co., Ltd. is a Korea-based company engaged in the manufacture of agricultural chemicals for paddy rice and gardening. The Companyâs products include pesticides, insecticides, fungicides and herbicides. Its fungicides are used to provide resistance against fungal plant diseases including white rots, blotches, scabs, downy mildews and powdery mildews. Its insecticides are used to kill aphids, plant hoppers, rice water weevils, leaf rollers, rice stem borers, ensign scales and others. Its herbicides are used to kill weeds that compete with crops for root space, nutrients and water. The Company also engages in the real estate leasing business.
SUNG BO CHEMICALS CO., LTD 
