Wellbiotec Co., Ltd. announced that it expects to receive KRW 29.99999869 billion in funding
January 01, 2019
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Wellbiotec Co., Ltd. (KOSE:A010600) announced a private placement of 6,764,374 common shares at an issue price of KRW 4,435 per share for gross proceeds of KRW 29,999,998,690 on January 2, 2019. The transaction will involve participation from new investors, MSTEch Korea Co., Ltd. and I Innovation Co., Ltd. for 3,382,187 shares each. The shares have face value of KRW 500 and are being issued at premium. 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. Prior to the transaction, the total number of shares issued by the company are 28,866,830 shares. The payment date is March 21, 2019. The transaction has been approved by the board of directors of the company.
WELLBIOTEC CO.,LTD, formerly YBROAD CO., LTD., is a Korea-based company engaged in the leather business. The Companyâs products portfolio consists of nappa, naked, soft and other types of leathers used for handbags; water proof, gore-tex, nubuck, white and washable leathers used for shoes; chrome and non-chrome leathers used for car seats; chrome and non-chrome, and grain leathers used for steering wheels, and others, including baseball glove leathers and belt leathers. It also involves in the integrated transportation business, as well as wholesale and retail of electrical equipment business through its subsidiaries. The Company supplies its leather products to Coach, Tumi, Juicy, Vicotornox, Brighton, Timberland, Foot Joy, Stride Rite, Honda, Acura, Suzuki, Toyota and others.
WELLBIOTEC CO., LTD. 
