Emro Incorporated announced that it expects to receive KRW 2 billion in funding
January 05, 2017
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Emro Incorporated (XKON:A058970) announced a private placement of 400,000 registered convertible redeemable preferred stock with voting right at a price of KRW 5,000 per share for gross proceeds of KRW 2,000,000,000 on January 06, 2017. The transaction involves participation from investor, KT-IBKC Future Investment Fund 1. The shares were issued at a premium. The shares will be issued through a third party allotment. The preferred stock is fully convertible into 400,000 common stock of the company between the conversion period of January 24, 2017 to January 23, 2027 and redemption period of January 23, 2020 to January 23, 2027. Post the closing of the transaction the number of preferred shares will increase from 888,888 to 1,288,888. The payment date is January 23, 2017. The transaction has been approved by the board of directors of the company.
Emro Incorporated is a Korea-based company mainly engaged in the provision of purchase and supply chain management (SCM) solutions. The Companyâs products include smart suite, smart framework, data management and process innovation (PI) consulting services. Smart suite provides integrated solution for optimization on the entire purchasing value chain. Smart framework provides a workspace that maximizes user convenience to enhance system utilization and increase userâs work efficiency. Process innovation consulting services provide professional consulting services which are improvement, process innovation, Information technology (IT) infra innovation and cost innovation. Data management provides a basis for understanding data quality issues and the ability to define business rules directly from the data.
EMRO., INCORPORATED. 
