Sumagen Co., Ltd. announced that it expects to receive KRW 11.864430381 billion in funding from CUROCOM Co., Ltd.
September 07, 2020
Share
Sumagen Co., Ltd. announced that it will issue 2,573,071 shares at a price of KRW 4,611 per share for gross proceeds of KRW 11,864,430,38 on September 8, 2020. The shares have face value of KRW 500 per share. The transaction included participation from returning investor CUROCOM Co., Ltd. (KOSDAQ:A040350) for 1,011,588 shares to retain 64.78% stake. The transaction is expected to close on September 9, 2020. The transaction has been approved by board of directors. The securities are issued through Cash and investment conversion method.
CreoSG Co Ltd, formerly Curocom Co Ltd, is a Korea-based company mainly engaged in solution business and distribution business. The Company operates through three segments. The Solutions Business segment is engaged in the development and provision of financial consulting and software for financial institutions. Additionally, the segment is engaged in the supply of core banking solutions BANCS-K framework and BANCS-K Package to banks and other financial institutions. The Distribution Business segment is engaged in the distribution business of computers, laptops, printers, and multi-function printers. The New Drug and Vaccine Development Business segment is engaged in the development of vaccines for acquired immunodeficiency syndrome(AIDS), corona virus disease 19 (COVID-19) vaccine and other infectious diseases, and research and development of super antibiotics for Staphylococcus aureus.
CREOSG CO.,LTD. 