Kyung Nam Pharm Co., Ltd. announced that it expects to receive KRW 16.99999501 billion in funding
October 14, 2018
Share
Kyung Nam Pharm Co., Ltd. (KOSDAQ:A053950) announced a private placement of 1,696,945 common shares at an issue price of KRW 10,018 per share for gross proceeds of KRW 16,999,995,010 on October 15, 2018. The transaction will involve participation from new investor Milestone KN Fund. The shares will be issued at a premium and through third party allotment method. Post the closing of the transaction, the shares issued by the company will increase from 11,248,376 to 12,945,321. The transaction is expected to close on November 08, 2018. The shares issued in the transaction are subject to a lock up period of two years. The transaction was approved by the board of directors of the company.
KYUNG NAM PHARM.CO., LTD. is a Korea-based company mainly engaged in the manufacture and sale of pharmaceuticals. The Company's product portfolio consists of vitamin products, placenta products, health food products and general pharmaceuticals. The Company provides vitamin products under the brand name LEMONA. It supplies health food products such as lactobacillus products through convenient stores and marts. The placenta products include human placenta related injections and drinks. The general pharmaceuticals include athlete foot therapeutic agents, inflammatory drugs, cold remedies, multi-nutrients and others.