Neuros, "Rights Offering Proceeding Without Issues... Undergoing Approval Process in China"

[Asia Economy Reporter Ji Yeon-jin] NeuroS, a manufacturer of air compressors for hydrogen fuel cell vehicles, stated on the 22nd in response to the Korea Exchange's inquiry disclosure request and through the major event report dated January 11, 2021, that it had announced the decision for a third-party allotment paid-in capital increase. "The paid-in capital increase contract is proceeding without issues, and the Chinese investor is undergoing review to remit the payment on the payment date. Currently, the approval process for ODI by the Chinese Ministry of Commerce is underway," the company responded.

The company added, "There is no confirmed decision yet regarding the extension of the payment date due to delays in the remittance review, and if the approval process is delayed, the payment date may be changed."

NeuroS closed at the lower limit price yesterday as it became known that the paid-in capital increase funds might be delayed.