Yeongcheon Sangju Expressway Co., Ltd. announced that it expects to receive KRW 27.7 billion in funding from Daelim Industrial Co. Ltd., Korea Development Corporation Co., Ltd., Samho International Co. Ltd., and other investors.
January 30, 2012 at 11:00 pm EST
Yeongcheon Sangju Expressway Co., Ltd. announced that it will raise KRW 27,700,000,000 in a round of funding from existing investors on January 31, 2012. The company will issue 5,540,000 common shares at KRW 5,000 per share. The subscription period will start and end on February 10, 2012. The payment date is February 22, 2012. The company also announced that 7.0126582 new shares will be given for every existing share held by investors. Existing investor Samho International Co., Ltd. will subscribe to 171,740 common shares for KRW 858,700,000 to maintain 3.10% stake, Korea Development Corporation will subscribe to 171,740 common shares for KRW 858,700,000 to maintain 3.10% stake, and Daelim Industrial Co., Ltd. will subscribe to 1,506,880 common shares for KRW 7,534,400,000 to maintain 27.2% stake in the company.