Pace Raises Funds Through Paid-in Capital Increase... "Improving Financial Structure and Developing Next-Generation New Products"

[Asia Economy Reporter Hyunseok Yoo] Melpas, a touch solution specialist company, is set to improve its financial structure and develop next-generation new products through a capital raise of approximately 2.1 billion KRW.

On the 11th, Melpas announced that it has decided on a third-party allotment paid-in capital increase worth about 2.1 billion KRW targeting Hong Kong Fortunate Fountain Investment, a Chinese capital firm.

Hong Kong Fortunate Fountain Investment was established by Gong Hao, a partner of River Fund Investment, a Chinese fund company based in Shanghai. This investment was facilitated at the recommendation of Melpas’s major shareholder, Gangseo Yeonchang Gyugok Investment Co., Ltd.

A Melpas representative stated, “Since the organizational efficiency and business restructuring have been successfully completed, we judged that now is the right time to pioneer new markets and businesses to strengthen the company’s business competitiveness,” adding, “We plan to realize this through the current capital raise.”

He continued, “We already have experience in operating overseas subsidiaries and collaborating with partners through multiple Chinese JV establishments and overseas factory operations, and recently, we have been successfully running a wireless charging business through cooperation with a JV,” further explaining, “Based on this experience and platform, Melpas plans to develop and promote new business models by connecting and localizing excellent domestic and international resources. This investment attraction is part of that cooperative partnership strategy.”

This year, Melpas plans to stabilize its existing business structure centered on touch products while focusing on securing a new product portfolio and commercialization by launching touch chips for wearable devices and low-power wireless charging chips within the first half of the year. According to the company, the goal is to achieve continuous profitable performance and firmly establish a foundation for future growth by strengthening business competitiveness and promoting new businesses in the rapidly growing wireless charging market.

Meanwhile, Selfras, a company jointly established by Melpas and its Chinese partner, is pursuing a listing on the Chinese stock market in 2021. This is expected to be the first successful case of the company’s cooperative partnership strategy.

This content was produced with the assistance of AI translation services.