Asahi Food Processing Co.,Ltd. announced that it expects to receive KRW 38.76430872 billion in funding from Pulmuone Co., Ltd.
May 02, 2018
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Asahi Food Processing Co.,Ltd. announced a private placement of 3,342 common shares at an issue price of KRW 11,599,134.87 for gross proceeds of KRW 38,764,308,720 on May 2, 2018. The transaction will involve participation from retuning investor Pulmuone Co., Ltd. (KOSE:A017810) for 2,172 shares for KRW 25,193,322,306. Post-closing, the investor will hold 4,714 shares for 56.51% stake in the company and the shares issued by the company will increase from 5,000 to 8,342. For each share held, investor will receive 0.6684 shares in the company. The transaction will take place in two tranches, first tranche closing on May 30, 2018 and the second tranche closing on August 30, 2018. The subscription date of the transaction is August 30, 2018. The transaction was approved by the board of directors of the investor. The company reported total assets of KRW 83,017,248,660, total liabilities of KRW 61,964,161,975, and net loss of KRW 6,740,245,050 for the year ended December 31, 2017.
PULMUONE, formerly Pulmuone Holdings Co., Ltd. is a Korea-based holding company engaged in the management of its subsidiaries. Through its subsidiaries, the Company is mainly engaged in the food manufacturing and food material distribution businesses. The Companyâs subsidiaries include Pulmuone Foods Co., Ltd., which is engaged in the production of tofu, bean sprouts, eggs and noodles; Exofresh Logistics Co., Ltd., which is mainly engaged in the provision of chilled logistic business; ECMD. CO., LTD., which is engaged in the food service business; FOODMERCE, which is engaged in the distribution of food materials, and Pulmuone Health&Living CO.LTD., which is mainly engaged in the manufacture of healthcare foods.
PULMUONE CORPORATE 
