PaperCorea Inc. announced that it expects to receive KRW 13.999999698 billion in funding from Uamco., Ltd., Investment Arm
March 20, 2019
Share
PaperCorea Inc. (KOSE:A001020) announced a private placement of 16,548,463 common shares at a price of KRW 846 per share for gross proceeds of KRW 13,999,999,698 on March 21, 2019. The transaction will include participation from existing investor Uamcocr 7th Corporate Recovery Private Equity Fund, a fund managed by Uamco., Ltd., Investment Arm. The shares will have a face value of KRW 500 per share. The company will issue the shares at a premium through third party allotment method. The shares will have a payment date of March 29, 2019. The transaction has been approved by the board of directors of the company. The shares will have a lock-up period of one year.
PaperCorea Inc. is mainly engaged in the manufacture and sale of newsprint papers. The Company, together with four subsidiaries, operates in five divisions. Its paper division engages in the manufacture of printing papers, such as newsprint papers, papers for comic books, papers for telephone directories, publication papers and medium quality papers, as well as industrial papers, such as sack kraft papers, environmentally friendly products and specialty papers. Its structural steel division engages in the manufacture of structured steels and steel frames, as well as provision of operation and maintenance services for plants. Its printing material division engages in the manufacture of polyethylene terephthalate (PET) films used as ink jet media, coatings and electronic materials. Its electricity division engages in the provision of electricity with fuel batteries. Its education division engages in the provision of class course services, teaching materials and others.
PAPERCOREA INC. 
