Artworks Korea Co, Ltd. announced that it expects to receive KRW 24.299998941 billion in funding from CJ ENM CO., Ltd.
November 22, 2023
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Artworks Korea Co, Ltd. announced that it will issue 2,036,711 common shares at a price of KRW 11,931 per share for gross proceeds of KRW 24,299,998,941 on November 23, 2023. The par value of each share is KRW 500 per share. The capital will be increased through shareholder allocation method.
The transaction is expected to close on November 27, 2023. The transaction has been approved by board of directors of the company. The transaction included participation from returning investor CJ ENM CO., Ltd. The investor will hold 100% stake after completion of the transaction.
CJ ENM Co Ltd, formerly CJ O Shopping Co Ltd, is a Korea-based company engaged in home shopping and catalogue sales business. The company operates its business through four segments. The Media Business segment provides broadcasting services through broadcasting channels such as TVN, OCN, and channel (CH) CGV, and sells broadcasting contents. The Commerce Business segment sells men's and women's underwear and apparel, accessories, bedding, electronics, cosmetics, sporting goods, furniture, household goods, kitchenware, food, and mobile phones through cable television home shopping networks, mail order, and the Internet. The Film and Performance Business segment is engaged in the production, distribution, and investment of movies, and operates the performance business. The Music Business segment is engaged in music production and distribution business.
CJ ENM CO., LTD. 
