HAESUNG DS Co., Ltd. announced that it has received KRW 22.35 billion in funding from Keyang Electric Machinery Co., Ltd.
April 30, 2014 at 12:00 am
MDS Co., Ltd. announced a private placement of 3,750,000 shares at KRW 5,960 per share for gross proceeds of KRW 22,350,000,000 on April 9, 2014. The transaction will include participation from a new investor, Keyang Electric Machinery Co., Ltd. As part of the transaction, the investor will acquire 25% stake in the company. The scheduled investment date for the transaction is April 30, 2014. The company reported total assets of KRW 10,000,000 and total stockholders' equity of KRW 10,000,000 for the year ended December 31, 2013.
On April 30, 2014, MDS Co., Ltd. closed the transaction.