SkyMoon Technology is continuously hitting the upper price limit during trading.
As of 2:30 PM on the 2nd, SkyMoon Technology is trading at 2,600 KRW, up 600 KRW (30%) from the previous trading day.
After the market closed on the 29th of last month, SkyMoon Technology announced that it had decided to issue 70 billion KRW worth of anonymous, interest-bearing, unsecured private convertible bonds.
The bond issuance target is Zoomway Hong Kong Energy, a subsidiary of CNGR, the largest precursor company in China.
Zoomway plans to directly invest approximately 7.5 billion KRW in SkyMoon Technology through a capital increase, while also acquiring convertible bonds worth about 22 billion KRW.
Once the funds are fully paid, the largest shareholder will change from the existing Unwide International to Zoomway.
Meanwhile, SkyMoon Technology was established on February 9, 1990. The company is engaged in the development, manufacturing, and sales of communication equipment such as repeaters, telecommunications construction business, leasing, software development, and supply.
It supplies repeaters for wireless communication systems to telecommunication operators, with major customers including mobile communication companies, KT Powertel, and broadcasters.
As of the end of the current period, the sales composition by sector consists of 38.95% from the gaming business and 61.05% from telecommunications equipment and others, with telecommunications equipment including repeaters and Wi-Fi APs.
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