DAE SUN Shipbuilding & Engineering Co., Ltd. announced that it expects to receive KRW 50 billion in funding from Dongil Steel Co., Ltd., Dong Won Housing Co., Ltd., Dongwon Trading CO., Ltd., Sewon Steel Co., Ltd., Dongil Suite Co., Ltd.
December 28, 2020
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DAE SUN Shipbuilding & Engineering Co., Ltd. announced private placement of 10,000,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 50,000,000,000 on December 29, 2020. The transaction will include participation from Dong Won Housing Co., Ltd. for 2,400,000 shares, Dongil Steel Co., Ltd. for 4,600,000 shares, Dongil Suite Co., Ltd. for 1,000,000 shares, Dongwon Trading Co., Ltd. for 1,000,000 shares, and Sewon Steel Co., Ltd. for 1,000,000 shares. The shares will be issued at par. The shares will be subject to one year hold period. The expected payment date is April 15, 2021 and expected issue date is April 20, 2021. The transaction is approved by the board of directors of the company.
DONGIL STEEL Co., Ltd. is a Korea-based company mainly engaged in the manufacture of steel products. The Company operates its business through two main divisions: bar steels division and shape steels division. Its bar steels division engages in the manufacture of bar steels such as cold drawn steel round bars, hot rolled steel round bars, cold drawn steel square bars, cold drawn steel hexagonal bars and cold drawn steel rectangular bars used for automobile parts, machine parts, building materials, shipbuilding hardware, bolt-nuts and various shafts. Its shape steels division engages in the manufacture of shape steels, such as equal angles, unequal angles and channels used for shipbuilding, iron towers, braces, struts, bending materials and others. The Company distributes its products within domestic market and to overseas markets.
DAE SUN Shipbuilding & Engineering Co., Ltd. announced that it expects to receive KRW 50 billion in funding from Dongil Steel Co., Ltd., Dong Won Housing Co., Ltd., Dongwon Trading CO., Ltd., Sewon Steel Co., Ltd., Dongil Suite Co., Ltd.
DONGIL STEEL CO., LTD. 
