The Eight Games Co., Ltd. announced that it has received KRW 100 million in funding from DOUBLEUGAMES Co., Ltd.
May 02, 2016
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The Eight Games Co., Ltd. announced a private placement of 200,000 shares at KRW 500 per share for gross proceeds of KRW 100,000,000 on May 3, 2016. The shares are issued to existing investor DOUBLEUGAMES Co., Ltd through third party allotment. Pursuant to the transaction, the investor holds 50.7% stake in the company, increasing its stake from 19.999813%. The company reported total assets of KRW 504,000,000, total liabilities of KRW 151,000,000, total capital of KRW 353,000,000, capital of KRW 161,000,000, sales of KRW 868,000,000, and net profit of KRW -356,000,000 for the year ended December 31, 2015.
DoubleU Games Co Ltd is a Korea-based company mainly engaged in the development and sale of mobile games. In addition, the Company is involved in the provision of personal computer (PC) games. The mobile games and PC games are provided under the name of DoubleU Casino, DoubleU Bingo, Take 5 Free Slots and Hello Vegas Slot. The Company sells its products in domestic and overseas markets.