Gyeonggi Nanum Education Inc. announced that it has received KRW 2.23 billion in funding from KCC Engineering & Construction Co. Ltd. and other investors.
August 09, 2012 at 12:00 am EDT
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Gyeonggi Nanum Education Inc. announced that it will raise KRW 2,229,874,000 in an equity round of funding on August 8, 2012. The company will issue 2,229,874 shares at KRW 1,000 per share in the transaction. Existing shareholders will invest in the transaction. Existing investor, KCC Engineering & Construction Co. Ltd. will purchase 218,248 shares in the transaction and will hold 10.84% stake in the company. Other shareholders can acquire shares that were not acquired by the shareholders. In case of any completion, the method of acquisition will be according to the allocation ratio depending on the number of shares already held by the shareholders. But if there's no competition, shares will be acquired without restriction. New shares will not be issued for shares that are left unsubscribed even after the offering to the general public. The scheduled subscription period will start and end on August 9, 2012. The payment date is also August 9, 2012. 27.8734250 new shares will be allocated for every one existing share. The board of directors has approved the transaction.
On August 9, 2012, Gyeonggi Nanum Education Inc. closed the transaction.
KCC ENGINEERING & CONSTRUCTION CO., LTD. is a Korea-based company engaged in the construction and engineering business. The Company operates its business through four segments: civil engineering segment, architecture segment, presale construction segment and steel structures segment. Its civil engineering segment constructs expressways, railways, roads, bridges, tunnels, harbors, reclamation works, site renovation works, as well as the water supply and sewerage systems. Its architecture segment engages in the construction of commercial buildings, office buildings, residential buildings, factories, plants and others. Its presale construction segment constructs and markets apartment and residential complexes. Its steel structures segment constructs steel frames for buildings and steel bridges.
Gyeonggi Nanum Education Inc. announced that it has received KRW 2.23 billion in funding from KCC Engineering & Construction Co. Ltd. and other investors.