Daegu Green Energy Center Co., Ltd. announced that it expects to receive KRW 2.93 billion in funding from Daelim Industrial Co., Ltd., Daesung Energy Co., Ltd., Daesung Holdings Co., Ltd., GS Engineering & Construction Corporation, and Hwasung Industrial Co., Ltd.
December 03, 2013 at 11:00 pm EST
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Daegu Green Energy Center Co., Ltd. announced a private placement of 585,600 common shares at KRW 5,000 per share for gross proceeds of KRW 2,928,000,000 on December 4, 2013. The shares will be subscribed by existing investors GS Engineering & Construction Corporation, Daesung Energy Co., Ltd., Hwasung Industrial Co., Ltd., Daelim Industrial Co., Ltd., and Daesung Holdings Co., Ltd. in the ratio of 0.976 new shares for each share already held by the investor. The subscription period will start on December 4, 2013 and end on December 12, 2013.
Payment date for the transaction will be December 12, 2013. The transaction was approved by the board of directors of the company.
DAESUNG ENERGY CO.,LTD. is a Korea-based company mainly engaged in the provision of natural gas. The Company is supplied with natural gas from Koreas Gas Corporation and provides liquefied natural gas (LNG) for cooking, heating, cooling, industrial and business uses. It also operates natural gas stations in Daegu and Jukok. The Company also supplies heat and electricity for Jukgok District for residential, commercial and public uses. In addition, the Company is engaged in Internet shopping mall business and others.
Daegu Green Energy Center Co., Ltd. announced that it expects to receive KRW 2.93 billion in funding from Daelim Industrial Co., Ltd., Daesung Energy Co., Ltd., Daesung Holdings Co., Ltd., GS Engineering & Construction Corporation, and Hwasung Industrial Co., Ltd.
DAESUNG ENERGY CO., LTD. 
