| Seoul Semiconductor Co., Ltd., the Korea-based LED maker, and its affiliate company, Seoul Optodevice Co., Ltd. have raised $248 million in capital.
Seoul Semiconductor issued 6.9 million shares at 33.565 dollars per share for a total of $232 million dollars, and Seoul Optodevice issued 2.7 million shares at 5.870 dollars per share for a total of $16 million dollars. check US dollars.
Officials of Seoul Semiconductor and Seoul Optodevice indicate that these funds will be used for addressing increased product demands, due in part to the efficiency improvements and market acceptance of Acriche, the companys AC-driven LED light source. Another factor, says the company, is the patent cross-license agreement with the Nichia Corporation of Japan signed in early 2009 (see News).
This infusion of capital, by Singapore’s sovereign wealth fund, was based on the business potential and growth opportunities for Seoul Semiconductor and Seoul Optodevice in the lighting market-place, say the companys press release, which added, The ability to easily and quickly address expansion requirements with capital equipment and infrastructure will strengthen Seoul Semiconductor and Seoul Optodevice as a world-leading LED manufacturer.
Seoul Semiconductor has more than 5,000 patents, and as well as Acriche has developed Deep UV LED and Non-Polar LED implementations. The company runs 30 overseas operations, including 3 subsidiaries, and has 114 worldwide distributor locations. |
