STL Co., Limited announced that it expects to receive KRW 4 billion in funding from Lotte Shopping Co., Ltd. and other investors
December 10, 2018
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STL Co., Ltd. announced a private placement of 800,000 shares at KRW 5,000 per share for gross proceeds of KRW 4,000,000,000 on December 11, 2018. The transaction will include participation from existing investors including Lotte Shopping Co., Ltd. (KOSE:A023530) for 400,000 shares to retain its 50% stake and other investors for rest 400,000 shares. The number of outstanding shares will increase from 1,600,001 shares to 2,400,001 shares upon closing. The company will issue the shares at par. The transaction was approved by the board of directors of the company. The subscription date and expected payment date is December 13, 2018.
Lotte Shopping Co Ltd is a Korea-based company mainly engaged in the operation of department stores. The Company operates its business through six segments. The Department Store segment is involved of the installation and operation of department stores such as Lotte Depart Store. The Company operates its department stores within the domestic market and to overseas markets, including Vietnam, Russia, Indonesia and China. The Discount Store segment is involved of the installation and operation of discount stores. The Electronics Store segment is engaged in the sale of home appliances and computers and communication devices. The Super segment is engaged in the operation of supermarkets and the rental of real estate. The Home Shopping segment mainly engages in home shopping and e-commerce business through Internet shopping mall and mobile. The Other segment engages in the businesses including the sale of cosmetics, food and other consumer goods, the operation of movie theaters and others.
LOTTE SHOPPING CO., LTD. 
