Seong An Textile S.A.E announced a private placement of 16,000 shares at KRW 110,890 per share for gross proceeds of KRW 1,774,240,000 on August 3, 2016. The transaction included participation from returning investor, Seong An co., Ltd (KOSE:A011300). Seong An co., Ltd will hold 68% stake in the company after the transaction. The board of directors of the investor has approved the transaction.
The company reported total assets of KRW 1,518,000,000, total liabilities of KRW 141,000,000, total stockholders' equity of KRW 1,425,000,000, and stockholders' equity of KRW 1,640,000,000 for the year ended December 31, 2015.