Bumyang Floy Co., Ltd. announced that it expects to receive KRW 1.35 billion in funding from Bumyang Construction Co.,Ltd. and other investors
October 13, 2020
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Bumyang Floy Co., Ltd. announced that it will issue 270,000 shares at a price of KRW 5,000 for gross proceeds of KRW 1,350,000,000 on October 14, 2020. The transaction will include participation from returning investor, Bumyang Construction Co.,Ltd. (KOSE:A002410) for 122,000 shares and from new investors for remaining shares. The company will issue 148,000 shares through third-party allocation method. The transaction has been approved by board of directors of Bumyang Construction Co.,Ltd. (KOSE:A002410). Post to the transaction, the total number of issued shares will increase from 100,000 shares to 369,400 shares and the stake held by Bumyang Construction Co.,Ltd. (KOSE:A002410) will decrease from 100% to 60.10%. The subscription period for shares starts from October 21, 2020 and ends on October 23, 2020 and the payment date is on October 26, 2020.
BUMYANG CONSTRUCTION CO.,LTD, formerly PUMYANG CONSTRUCTION CO.,LTD. is a Korea-based company engaged in the construction business. The Company operates its business through architecture division, civil engineering work division. Its architecture division engages in the construction of public facilities, education facilities, residential complexes, hotels, business centers and others. Its civil engineering work division engages in the construction of roads, express ways, bridges, subways, railways, as well as water and sewage treatment works and landscaping works. It was also involved in the international public building, project management and construction businesses.
BUMYANG CONSTRUCTION CO.,LTD. 
