HYUNDAI INDOCHINA PTE., LTD. announced that it expects to receive KRW 8.9216 billion in funding from HYUNDAI CORPORATION HOLDINGS Co.,Ltd.
June 26, 2018
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HYUNDAI INDOCHINA PTE., LTD. announced a private placement of 8,000,000 common shares at an issue price of KRW 1,115.20 per share for gross proceeds of KRW 8,921,600,000 on June 27, 2018. The transaction will involve participation from existing investor HYUNDAI CORPORATION HOLDINGS Co.,Ltd. (KOSE:A227840). Post the closing of the transaction, the shares issued by the company will increase from 5,300,000 to 13,300,000 and the investor will continue to hold 100% stake in the transaction. The transaction was approved by the board of directors of the company. The company reported total assets of KRW 3,211,914,507 and net loss of KRW 2,412,289 for the year ended December 31, 2017.
HYUNDAI CORPORATION HOLDINGS, formerly HYUNDAI C&F Inc., is a Korea-based company principally engaged in wholesale of goods. The Company mainly wholesales household appliances such as mobile phones, air conditions and sound equipment; hardware; meat including beef and pork, grain and others.