Suppro Co., Ltd. announced that it expects to receive KRW 1.26725 billion in funding from Sangji Caelum, Inc.
August 12, 2018
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Suppro Co., Ltd. (XKON:A185190) announced a private placement of 370,000 common shares at a price of KRW 3,425 per share for gross proceeds of KRW 1,267,250,000 on August 13, 2018. The transaction will involve participation from new investor Sangji Caelum, Inc. (KOSDAQ:A042940). The company will issue the shares by a way of third party allotment.
The shares issued in the transaction will have a lock-up period of 1 year from the date of closing. The transaction has been approved by the board of directors of the company. The transaction is expected to close on September 7, 2018.
Suppro co., Ltd. is a Korea-based company mainly engaged in the sale of trees. The Company operates its business through four segments. The Tree Business segment is involved in the distribution of trees such as zelkova trees, pine trees, Yoshino cherry trees, and chionanthus retusus. The Natural Environment Restoration segment is engaged in the urban greening business, as well as ecological restoration business. The Overseas Greening segment is engaged in overseas desertification prevention business, ecological restoration and afforestation business. The Urban Agriculture Business segment is involved in the urban agriculture business through the operation of rooftop gardens, school farms, veranda gardens, and weekend farms.