Seoul, Sept 16, 2009 - (ACN Newswire) - Suprema Inc., a leading provider of biometric technologies, announced on September 15 that the company has successfully issued 1.2 million of new shares at an aggregate of $36M (KRW43.4 billion). For this public offering, Suprema received overwhelming response from institutional and private investors with subscribed bids exceeding $1.4B in total - 37.6 times the shares on offer.
With the share-raise capital, the company has plans to invest in R&D projects to broaden its business portfolio. According to Suprema, the company eyes on multi-modal biometrics from current fingerprint-based solutions. The company also has plans to develop an integrated security solution combining access control, surveillance and ID management applications.
"We are pleased to receive this tremendous interest and trust from investors, which well reflects Suprema's growth potential as well as technological competitiveness. With the raised funds, we will focus on developing a long-term technological growth platform through acquisitions or maybe a joint venturing," said James Lee, CEO at Suprema.
As of September 15, the company's total number of shares increased to 14.4 million and market capitalization exceeded $281M (KRW342.7 billion).
About Suprema
Suprema Inc. is a leading global provider of fingerprint recognition and identity management solutions. The company's range of products includes fingerprint modules, fingerprint systems, e-passport readers and live-scanners. Suprema has worldwide sales network over 100 countries and also a listed company in KOSDAQ (KQ: 094840)
For more information, please visit www.supremainc.com
Contact:
Andy Ahn
Marketing Manager
Suprema, Inc.
Tel: +82-31-783-4502
Fax: +82-31-783-4503
Email: sales@supremainc.com
Sept 16, 2009
Source: Suprema
Suprema
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
View more news from these Sectors: Health/Medical, Biotech
|
Print
Alerts
