CLOVER HITECH.CO., LTD. announced that it expects to receive KRW 4.9999998 billion in funding from Welkeeps Co.,Ltd
January 28, 2021
Share
CLOVER HITECH.CO., LTD. (KOSDAQ:A043590) announced a private placement of 8,333,333 common shares at an issue price of KRW 600 per share for gross proceeds of KRW 4,999,999,800 on January 29, 2021. The transaction will involve participation from existing investor, Welkeeps Co.,Ltd. The shares have face value of KRW 500. The shares are issued at a premium of 20%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 24,765,558 shares to 33,098,891 shares. The payment date is March 17, 2021. The transaction has been approved by the board of directors of the company.
Welkeeps Hitech Co Ltd, formerly Clover Hitechnology Co Ltd, is a Korea-based company mainly engaged in semiconductor design and semiconductor post-processing business. The Company operates its business through two segments. The Semiconductor Business segment is engaged in the fabless semiconductor business, which designs and sells semiconductor integrated circuits. The Segment is also engaged in the display driving chip package business. The Electrical & Power Business segment is engaged in the manufacture and sale of inverter transformers and coils.
WELKEEPS HITECH CO.,LTD 
