Ferrum Infra Co., Ltd. announced that it has received KRW 8 billion in funding from a group of investors.
July 24, 2013 at 12:00 am EDT
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Ferrum Infra Co., Ltd. announced a private placement of 1,454,544 preferred shares at KRW 5,500 per share for gross proceeds of up to KRW 7,999,992,000 on July 22, 2013. The shares will be issued to existing investor Se Kwang Steel Co., Ltd., and other investors Jeal Steel Co., Ltd., The Boo Resources Corporation, Dongkuk Refractories & Steel Co., Ltd., Cheonyoung Steel Co., Ltd., Korea Zinc Co. Ltd., TCC Steel Corp., Hwanyoung Steel Ind. Co., Ltd., and SeAH Steel Corporation. The investors will subscribe to 90,909 shares, 90,909 shares, 181,818 shares, 181,818 shares, 181,818 shares, 181,818 shares, 181,818 shares, 181,818 shares, and 181,818 shares respectively. The payment date for the transaction will be July 23, 2013. The transaction was approved by the board of directors of the company.
On July 24, 2013, Ferrum Infra Co., Ltd. closed the transaction.
DONGKUK REFRACTORIES & STEEL CO., LTD. is a Korea-based company mainly engaged in the manufacture of refractories and steels. The Companyâs products consists of shaped refractories such as alumina bricks, fire clay bricks, acid proof fire bricks, magnesium oxide bricks, zircon bricks and others under the brand name PGT-BT, J-18D, MAGGUN, TUNGUN, Ceramic Disk; monolithic refractories such as castable refractories, alumina stamping materials, plastic refractories, silica gunning materials, mortars, ramming mixes and others; fine ceramics such as alumina discs, high purity alumina crucibles and ceramics lining pipes used for burned heat treatment containers and sanitary faucets; steel pipes and hot dip galvanized steels (HGIs) used for electric home appliances, civil engineering and construction. It also involves in the wholesale of metal. On December 30, 2013, it sold its entire shares of Dae won Steel Co., Ltd.