Daekyung Machinery & Engineering Co., Ltd. announced that it expects to receive KRW 11 billion in funding
December 03, 2017
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Daekyung Machinery & Engineering Co., Ltd. (KOSE:A015590) announced a private placement of 22,000,000 common shares at an issue price of KRW 500 per share for gross proceeds of KRW 11,000,000,000 on December 4, 2017. The transaction will involve participation from new individual investors Kwon, Kyunghoon for 20,000,000 shares and Kim, Dongjun for 2,000,000 shares. The transaction is expected to close on December 5, 2017. The shares are subject to a hold period of 1 year. Post the closing of the transaction, the shares issued by the company will increase from 90,739,890 to 112,739,890. The transaction was approved by the board of directors of the company.
CURO CO., LTD., formerly DAEKYUNG MACHINERY & ENGINEERING CO.,LTD., is a Korea-based company mainly engaged in the manufacture of chemical equipment. Along with its subsidiary, the Company operates its business through two divisions: chemical equipment division and energy division. Its chemical equipment division provides heat exchangers, columns, pressure vessels, reactors with agitators and others. Its energy division provides equipment for power plants, including heat recovery steam generators for combined cycle power plants, water tube boilers and waste heat boilers for cogeneration power plants, and water tube boilers and waste heat boilers for industrial and utility plants. The Company distributes its products within domestic market and to overseas markets.
KIB PLUG ENERGY CO., LTD. 