YG Sports, Inc.’s announced that it expects to receive KRW 32 billion in funding from Phoenix Holdings Inc.
April 27, 2017
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YG Sports, Inc.’s announced a private placement of 3,20,000 common shares at a price of KRW 100,000 per share for gross proceeds of KRW 32,000,000,000 on April 28, 2017. The transaction will involve participation from YG Naver Contents & Lifestyle Fund, existing investor Phoenix Holdings Inc. (KOSE:A037270), and new investor Cho, Sungjun. The investment will be made for 165,000 common shares, 150,000 common shares, and 5,000 common shares at a price of KRW 100,000 per share resulting in gross proceeds of KRW 165,000,000,000, KRW 150,000,000,000, and KRW 500,000,000 respectively. The common shares will be issued at a premium. Post the closing of the transaction, the total number of common shares issued will reach to 380,000 from 60,000. Post the closing of the transaction Phoenix Holdings Inc. (KOSE:A037270) will hold 55.26%, YG Naver Contents & Lifestyle Fund will hold 43.42%, and Sungjun,Cho will hold 1.32%. YG Sports, Inc.’s expects the first tranche to close on May 04, 2017 and the second tranche to close on May 08, 2017.
YG PLUS, INC, formerly PHOENIX HOLDINGS INC, is a Korea-based advertising agency. Along with its affiliated companies, the Company operates two categories of businesses: advertisement production business and media agency business. Its advertisement production business creates advertisements for its clients. Its media agency business publishes and broadcasts advertisements through mass media such as televisions (TVs), radios, newspapers, magazines, new media, such as cable TVs and Internet, as well as outdoor billboards, subways, buses and theaters. The Companyâs clients include COCACOLA, SK Telecom, THE FACE SHOP and others.
YG PLUS, INC. 
