W Concept Korea Co., LTD announced that it has received KRW 4.2 billion in funding from ISE Commerce Company Limited.
July 09, 2015
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W Concept Korea Co., LTD. announced a private placement of 60,000 shares at KRW 70,000 per share for gross proceeds of KRW 4,200,000,000 on July 10, 2015. The transaction will include participation from existing investor, ISE Commerce Company Limited. The company will issue 0.20 shares for each share held by the investor. Each share has a par value of KRW 500. The investor will continue to retain its 100% stake in the company. The transaction was approved by the board of directors of ISE Commerce Company Limited.
The company reported total assets of KRW 3,179,000,000, total liabilities of KRW 4,723,000,000, total stockholders' equity of KRW -1,544,000,000, revenues of KRW 8,331,000,000, and net loss of KRW 16,000,000 for the year ended December 31, 2014.
ISE Commerce Company Limited is a Korea-based company engaged in the electronic commerce business. The Company engages in the provision of overseas and domestic shopping agency services through Internet catalogues: WIZWID, SKINRx, HauOlin, Sports25 and others. WIZWID provides apparels, shoes, bags and others. SKINRx mainly provides skin care products, body and hair care products, make-ups, fragrances and others. HauOlin provides living and home related items such as fabrics, furniture, kitchen and bath appliances and others. Sports25 principally provides leisure lifestyle sports goods. The Company also involves in the offline business, operating Wconcept store, Ntrend project, HanOlin store, and Jinny Kim Store. On April 1, 2013, the Company divested its brand-Jinny Kim business into a newly established wholly owned subsidiary.
ISE COMMERCE COMPANY LIMITED 