[Edaily Reporter Kwon Oh Seok ] KOSDAQ-listed company Great Rich Technologies Limited(900290)announced on the 5th that the subscription for a third-party private placement worth approximately 29.5 billion won was completed on the 4th. The company plans to use the proceeds to actively pursue the establishment of global production hubs, the upgrading of research and development (R&D) and production infrastructure, and the expansion of its high-value-added product portfolio. (Photo = Great Rich Technologies Limited) This capital increase involved the issuance of 9,241,141 common shares at 3,189 won per share. With the payment now complete, the company has secured the investment funds necessary to execute its growth strategy and has laid the groundwork to accelerate efforts to strengthen the competitiveness of its core businesses and expand its global production system. The company plans to use the secured funds to invest in the establishment of a production hub in Turkey, a project currently underway to strengthen its responsiveness to the European market. Through this, the company expects to improve response times to customers and enhance logistics efficiency, while further strengthening the competitiveness of its global supply chain and gaining momentum for business expansion within the European market. Great Rich Technologies Limited produces functional materials used in cutting-edge industries such as AI data centers, humanoids, AR glasses, automobiles, and semiconductors. The company has been continuously expanding its production capacity to meet growing demand from major clients, while also working to refine its business structure by focusing on high-value-added products and increasing its market share. A Great Rich Technologies Limited official emphasized, “Although the schedule for the rights offering was adjusted from the original plan, the completion of this capital subscription allows us to accelerate the implementation of our growth strategy,” adding, “We plan to strategically invest the secured funds in R&D, production capacity expansion, and the establishment of global production hubs to further strengthen our foundation for mid- to long-term growth.”
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