SNS Tech Decides on 65.9 Billion KRW Paid-in Capital Increase to Samsung Electronics
[Asia Economy Reporter Kum Boryeong] S&S Tech announced on the 31st that it has decided on a third-party allotment paid-in capital increase worth 65,933,180,000 KRW (1,716,116 shares).
The third-party allotment recipient is Samsung Electronics. Regarding the selection process, S&S Tech explained, "The board of directors selected Samsung Electronics to establish a stable supply base for blank masks, a core material in semiconductor lithography processes, and to secure future growth engines through next-generation semiconductor technology development."
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The raised funds will be used for operating expenses of 24.6 billion KRW, facility expenses of 21.5 billion KRW, and debt repayment of 19.8 billion KRW, among others.
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