Hanlim Ecotech Co., Ltd. announced that it expects to receive KRW 3 billion in funding from Nature and Environment Co., Ltd.
December 23, 2019
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Hanlim Ecotech Co., Ltd announced a private placement of 2,000,000 common shares issued at KRW 1,500 per share for gross proceeds of KRW 3,000,000,000 on December 24, 2019. The transaction will include participation from Nature and Environment Co., Ltd. (KOSDAQ:A043910). The company expects to close the transaction on December 26, 2019. The transaction was approved by the board of directors of the company. The company will acquire 6.43% stake in the company through the transaction.
Nature & Environment Co., Ltd. is a Korea-based company engaged in the steel business and environmental restoration businesses. Its steel business provides stainless steel pipes and other steel products, which are used for piping, boilers, heat exchangers and others. Its environmental restoration business includes restoration business, which produces geo green cells, blocks, walls and others used in river restoration constructions; landscaping business, which mainly provides grass for landscaping constructions, and water business, which provides water, soil and lakes purification services.
NATURE & ENVIRONMENT CO.,LTD. 
