Kg Logistics Ltd. announced that it has received KRW 55 billion in funding from KGinicis Co., Ltd..
November 25, 2015
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Kg Logistics Ltd. announced a private placement of 11,000,000 shares at KRW 5,000 per share with returning investor, KGinicis Co., Ltd. for gross proceeds of KRW 55,000,000,000 on November 26, 2015. Each share has a face value of KRW 5,000 each. The company issued 10 shares for each existing share. The transaction involved debt to equity swap and cash investment. The subscription and payment date for the transaction is November 26, 2015. The transaction has been approved by the board of directors of the investor.
The company reported total assets of KRW 33,342,000,000, total liabilities of KRW 33,245,000,000, capital of KRW 5,500,000,000, sales of KRW 138,901,000,000, and net loss of KRW 19,069,000,000 for the year ending December 31, 2014.
KGINICIS CO.,LTD is a Korea-based company engaged in the provision of online payment gateway (PG) services. The Company provides secure PG solutions through cryptographic authentication, data protection and electronic signature technologies. The Company provides payment services under the brand name of INIpay. The Company offers a comprehensive line of payment services through credit cards, debt cards, purchasing cards, electronic fund transfer processing, gift cards, loyalty cards, stored value cards, point-of-sale equipment, merchant accounting and others. It has partnerships with online shopping malls, telecommunication carriers, public institutions and others.
KGINICIS CO.,LTD 
