POSCO Humans Co., Ltd. announced that it expects to receive KRW 2.95152 billion in funding from POSCO ENERGY Co., Ltd., POSCO M-TECH Co., Ltd., POSCO Engineering & Construction Co., Ltd.
November 10, 2019
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POSCO Humans Co., Ltd. announced a private placement of 572,000 shares at an issue price of KRW 5,160 per share for gross proceeds of KRW 2,951,520,000 on November 11, 2019. The transaction will involve participation from POSCO ENERGY Co., Ltd. for 34,000 shares, POSCO M-TECH Co., Ltd. (KOSDAQ:A009520) for 21,000 shares, POSCO Chemicals Ltd. for 54,000, POSCO International Ltd. for 88,000, POSCO lTD. for 211,000, POSCO Engineering & Construction Co., Ltd. for 211,000, and POSCO kids City Ltd. for 164,000. The transaction has been approved by the board of directors of the company. The company will issue securities through third party allotment method. The shares to be issued in the transaction have a par value of KRW 5,000 per share. The date of payment is December 12, 2019.
POSCO M-TECH CO.,LTD. is a Korea-based company mainly engaged in the provision of steel raw materials and packing materials. The Company operates its business through four divisions: steel raw materials division, packing business division, engineering business division and magnesium division. Its steel raw materials division provides aluminum ingots, pellets, mini-pellets, molybdenum briquette and ferro-molybdenum. Its packing business division provides packaging materials, packaging services and packing equipment. Its engineering division distributes packaging equipment, such as steel coil packaging lines, steel sheet dispensers, strap masters, outer-ring molders, steel automatic attaching facilities and others. Its magnesium division operates magnesium smelting factories. The Company also involves in the real estate rental business.
POSCO Humans Co., Ltd. announced that it expects to receive KRW 2.95152 billion in funding from POSCO ENERGY Co., Ltd., POSCO M-TECH Co., Ltd., POSCO Engineering & Construction Co., Ltd.