Pyeongtaek Dongbang I-Port Co., Ltd. announced that it expects to receive KRW 37.57 billion in funding from Dongbang Transport Logistics Co., Ltd.
December 07, 2016
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Pyeongtaek Dongbang I-Port Co., Ltd. announced a private placement of 7,513,800 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 37,569,000,000 on December 8, 2016. The transaction will include participation from existing investor Dongbang Transport Logistics Co., Ltd. (KOSE:A004140). Post the closing, the investor will hold a stake of 55.6% in the company, for a total of 8,243,800 shares. The transaction will close on December 31, 2040. The transaction has been approved by the board of directors of the company. The company reported total assets of KRW 117,701,875,159, total liabilities of KRW 127,589,119,967, total stockholders’ equity of KRW -9,887,244,808, capital of KRW 36,500,000,000, sales amount of KRW 21,190,934,538, and net profit of KRW -631,385,972 for the year ended December 31, 2015.
DONGBANG TRANSPORT LOGISTICS CO., LTD. is a Korea-based company engaged in the transportation business. The Company operates its business through four divisions: harbor stevedore division, which provides stevedoring and warehouse management services for imported/exported and general cargoes; freight truck transportation division, which engages in the road transportation of general and heavy cargoes; marine transportation division, which engages in the transportation of steel products and other bulk cargoes, and other business division, engages in the automobile maintenance, rental and oil distribution businesses.