Woosung I.B. Co., Ltd. announced that it expects to receive KRW 2 billion in funding from ZAIGLE Co., Ltd.
October 24, 2017
Share
Woosung I.B. Co., Ltd. (KOSDAQ:A194610) announced a private placement of 1,220,000 common shares at a price of KRW 1,640 per share for gross proceeds of KRW 2,000,800,000 on October 25, 2017. The transaction will involve participation from ZAIGLE Co., Ltd. (KOSDAQ:A234920). The shares will be issued by a way of third party allotment. The shares will be issued at par. Post the closing of the transaction, the total number of shares issued by the company will increase from 19,500,000 to 20,720,000. The transaction is expected to close on October 26, 2017. The shares will be subject to a lock up period of 12 months from the date of closing. The transaction has been approved by the board of directors of the company.
ZAIGLE Co., Ltd. is a Korea-based company primarily engaged in the manufacture and distribution of cooking apparatus. The Company operates its business through three segments. The Kitchen Electric Appliances segment manufactures and distributes roasters under the brand names of ZAIGLE-HANDSOME, ZAIGLE-PLUS and others. The Household Appliances segment manufactures and distributes household electric appliances under the brand names of ZAIGLE-AIR, ZAIGLE-CLEAR and others. The Other segment manufactures pans and other components, which are used for the cooking apparatus. The Company distributes its products within domestic market and to overseas markets.
ZAIGLE CO., LTD. 
