Suppro Co., Ltd. announced that it expects to receive KRW 600 million in funding
August 22, 2016
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Suppro Co., Ltd. announced a private placement of 240,000 9th convertible redeemable preferred shares at KRW 2,500 per share for gross proceeds of KRW 600,000,000 on August 23, 2016. The transaction will include participation from returning investor AJ Agrifood Export Development Fund 2 . The shares are convertible into common shares of the company and the conversion period is from August 25, 2017 to August 24, 2026. Upon conversion, the investor will acquire 6.731268% stake in the company. The company will issue shares at premium of KRW 2,000 per share. The payment date is August 24, 2016. The eligible dividend payment date is April 1, 2016. The transaction has been approved by the board of directors of the company. The company will issue shares through third party allotment method.
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.
SUPPRO CO., LTD. 
