Development Advance Solution Co., Ltd. announced that it expects to receive KRW 5.39466 billion in funding
November 22, 2020
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Development Advance Solution Co., Ltd. (KOSE:A058730) announced a private placement of 2,697,330 common shares at an issue price of KRW 2,000 per share for gross proceeds of KRW 5,394,660,000 on November 23, 2020. The shares have face value of KRW 500. The shares are issued at a premium of 300%. The company will issue shares through shareholder allotment method. Post the closing, the total number of shares issued by the company will increase from 1,139,500 shares to 3,836,830 shares. The payment date is December 29, 2020. The transaction has been approved by the board of directors of the company.
Development Advance Solution Co.,Ltd. is a Korea-based company mainly engaged in the production and sale of road safety facilities. Along with subsidiaries, the Company operates its business through three segments. The Social Overhead Capital (SOC) segment is involved in the manufacturing and sale of road safety facilities. The road safety facilities include general guard rails, high specification guard rails, rigid differential guard rails, steel barriers, open protective fences and sound barrier walls, among others. The Building Material Business segment manufactures and sells deck plates and building materials. The New Renewable Energy Business segment operates the solar power generation facilities.