Andar Co., Ltd. announced that it has received KRW 19.3436376 billion in funding from Echo Marketing Co., Ltd.
May 25, 2021
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Andar Co., Ltd. announced private placement of 2,724,456 shares at a price of KRW 7,100 per share for gross proceeds of KRW 19,343,637,600 with new investor Echo Marketing Co., Ltd. (KOSDAQ:A230360) on May 26, 2021. The investor acquired 56.37% stake in the company. The number of outstanding shares increased from 2,016,689 shares to 4,741,145 shares after closing. The transaction has been approved by the board of directors of the investor.
Echo Marketing Co Ltd is a Korea-based company principally engaged in the manufacture and sale of apparel products. The Company operates its business through four segments. The Clothing Manufacturing and Sales segment is engaged in the manufacture and sale of yoga wear, leggings, slacks and other clothing products. The Direct to Consumer (D2C) Commerce segment is engaged in the provision of e-commerce services. The Advertising Agency Service segment is engaged in the provision of advertising agency service for search engines, advertising agency service for play devices and other services. The Others segment is engaged in the investment businesses.
ECHOMARKETING CO.,LTD. 
