GOLFZON Japan announced that it expects to receive KRW 11.87 billion in funding from Golfzon Co., Ltd.
May 30, 2012 at 12:00 am EDT
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GOLFZON Japan announced that it will raise KRW 11,867,040,000 in a round of funding from existing investor Golfzon Co., Ltd. on May 30, 2012. The company will issue 80,000 shares at KRW 148,338 per share to the investor. The investor will have 98.5% stake in the company pursuant to the transaction. The company had total assets of KRW 6,254,000,000 in 2011 and generated total revenue of KRW 8,244,000,000 and net loss of KRW 1,216,000,000.
GOLFZON NEWDIN HOLDINGS Co., Ltd., formerly GOLFZONNEWDIN Co., Ltd., is a Korea-based company mainly engaged in the development of golf game software. The Company and its subsidiaries are engaged in the provision of golf simulators, including swing plates, golf simulator online services, online screen golf services, golfzon live managers, as well as operation of golf courses. It also provides simulator maintenance services and distributes golf supplies. The Company provides online services through Golzon.com, which enables customers to watch real-time swing motion videos and ranking information during game rounds, and access to golf column for golf learning articles and event information. It supplies its products within domestic market and to overseas markets.
GOLFZON NEWDIN HOLDINGS CO., LTD. 
