UI Trans Corporation announced that it has received KRW 2.33 billion in funding from POSCO Engineering & Construction Co., Ltd. and Posco ICT Company Ltd.
On September 2, 2014, UI Trans Corporation closed the transaction. The company issued 465,918 shares for KRW 2,329,590,000. The transaction included participation from POSCO Engineering & Construction Co., Ltd., which subscribed to 332,938 shares for KRW 1,664,690,000 and Posco ICT Company Ltd., which subscribed to 132,980 shares for KRW 664,900,000. POSCO Engineering & Construction Co., Ltd. acquired 1.27% stake and Posco ICT Company Ltd. acquired 0.51% stake of the company through this transaction. The investor acquired total stake of 1.78% through this transaction. POSCO Engineering & Construction Co., Ltd. increased its stake from 27.29% to 28.56% and Posco ICT Company Ltd. increased its stake from 10.90% to 11.41%.