Hanjin New Port Co., Ltd. announced that it expects to receive KRW 116 billion in funding from Hanjin Transportation Co., Ltd.
March 28, 2017
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Hanjin New Port Co., Ltd. announced a private placement of 1,666,284 shares at KRW 69,616 per share for gross proceeds of KRW 116,000,026,944 on March 29, 2017. The transaction will include participation from existing investor Hanjin Transportation Co., Ltd. (KOSE:A002320). Pursuant to the transaction, the investor shall hold 62.87% stake in the company. The transaction is expected to be completed by June 13, 2017. The transaction has been approved by board of directors of the company.
The company reported total assets of KRW 221,898,418,009, total revenues of KRW 119,252,555,163, and KRW 2,529,678,986 and net income of KRW 2,529,678,986 for the year ended December 31, 2016.
HANJIN TRANSPORTATION CO., LTD. is a Korea-based company engaged in the provision of transportation services. The Company mainly operates in land transportation business, which provides truck transportation and railroad transportation; delivery business, which provides door to door parcel services to overseas countries; stevedoring business, engaged in the operation of container yard and container freight stations and the provision of cargo handling services, and marine transportation business, which provides coastal shipping services with radioactive waste ships, container carriers, bulk carriers and others. It also engaged in forwarding, packaging, car rental, warehousing, gas station and third party logistics (3PL) businesses.
HANJIN TRANSPORTATION CO., LTD. 
