SM Duty Free Co., Ltd. announced that it expects to receive KRW 36.35 billion in funding from Hanatour Service Inc. and other investors
December 17, 2017
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SM Duty Free Co., Ltd. announced a private placement of 7,270,000 common shares at an issue price of KRW 5,000 for gross proceeds of KRW 36,350,000,000 on December 18, 2017. The transaction will include participation from returning investor Hanatour Service Inc. (KOSE:A039130) for 6,000,000 common shares to hold 82.54% stake in the company. Post the closing of the transaction, the shares issued by the company will increase from 7,663,362 to 14,933,362. The shares will be issued at par. The company announced that it will issue 0.9486709016 new shares per one existing share. The expected payment date of the transaction is February 5, 2018. The transaction was approved by the board of directors of the company and Hanatour Service Inc. (KOSE:A039130). The company has reported total assets of KRW 54,118,566,851, total liabilities of KRW 12,792,826,993, total capital of KRW 41,325,739,858, capital of KRW 76,633,620,000, sales amount of KRW 94,088,356,523, and net loss of KRW 29,094,446,987 for the year ended December 31, 2016.
HanaTour Service Inc is a Korea-based company mainly engaged in the travel business. The Company engages in the provision of travel management services, including packaging tours, independent tours, honeymoon tours, golf tours and others throughout domestic and overseas; sales agency and online agency services, which sell travel products through affiliated travel agencies, and operates travel portal site, www.hanatour.com. The Company also involves in the provision of advertising agency services, publishing and print production, e-commerce business, passenger vehicle transportation business, travel arrangements, ticketing agency, travel information service, accommodation management consignment business, hotel business, sales, import and export of goods, duty free shops, and software technology development. , system development and maintenance, loan business, asset management business, insurance business, and real estate business.
HANATOUR SERVICE INC. 
