PaperCorea Inc. announced that it expects to receive KRW 14.999999904 billion in funding from Uamco., Ltd., Investment Arm
December 18, 2018
Share
PaperCorea Inc. (KOSE:A001020) announced a private placement of 19,157,088 common shares at a price of KRW 783 per share for gross proceeds of KRW 14,999,999,904 on December 19, 2018. The transaction will include participation from existing investor Uamcocr 7th Corporate Recovery Private Equity Fund, a fund managed by Uamco., Ltd., Investment Arm. The shares will have a face value of KRW 500 per share. The company will issue the shares at a discount of 10% through third party allotment method to improve financial structure of the company. The shares will have a payment date of December 27, 2018, eligibility date for dividend as January 1, 2018, scheduled delivery date of January 10, 2019 , and listing date as January 11, 2019. The transaction has been approved by the board of directors of the company. The shares will have a lock-up period of one year.
PaperCorea Inc. is mainly engaged in the manufacture and sale of newsprint papers. The Company, together with four subsidiaries, operates in five divisions. Its paper division engages in the manufacture of printing papers, such as newsprint papers, papers for comic books, papers for telephone directories, publication papers and medium quality papers, as well as industrial papers, such as sack kraft papers, environmentally friendly products and specialty papers. Its structural steel division engages in the manufacture of structured steels and steel frames, as well as provision of operation and maintenance services for plants. Its printing material division engages in the manufacture of polyethylene terephthalate (PET) films used as ink jet media, coatings and electronic materials. Its electricity division engages in the provision of electricity with fuel batteries. Its education division engages in the provision of class course services, teaching materials and others.
PAPERCOREA INC. 
