Kolen plans to spend 18 billion won to expand its plant in Vietnam ...Relocate production bases from the Philippines to Vietnam

[Infostock Daily = Reporter Kim Jong-Hyo] Kolen, a camera lens specialist, will expand its plant in Vietnam.

Kolen said  it plans to raise 18 billion won in paid-in capital increase and will use it to expand its plant in Vietnam and expand production facilities. Its production capacity in Vietnam is 6 million units per month. The company explained that it plans to expand the number to 13 million.

Kolen said it plans to raise 18 billion won through a general public offering after allocating shareholders. The new stock allocation date is September 4, the new stock subscription date is October 13 to 14, and the payment date is October 22. The new stock listing date is November 3.

Based on aspherical optical lens design and mass production technology, Kolen develops and produces camera lenses for smartphones, lenses for fingerprint recognizers, and CCTV lenses. Smartphone camera lenses are supplying a variety of products from 30-megapixel low-resolution models to high-resolution models over 48-megapixels, wide-angle lenses, telephoto lenses and ToF lenses.

Reporter Kim Jong-Hyo kei1000@infostock.com