ISU Abxis Co., Ltd. announced that it expects to receive KRW 9.999997 billion in funding from ISU Chemical Co., Ltd
October 11, 2023
Share
ISU Abxis Co., Ltd announced a private placement of 1,428,571 common shares at an issue price of KRW 7,000 per share for the gross proceeds of KRW 9,999,997,000 on October 12, 2023. The transaction has been approved by the shareholders of the company. The transaction will include participation from new investor ISU Chemical Co., Ltd. The shares are restricted to a hold period of 1 year.
The transaction is expected to close on October 23, 2023.
ISU Chemical Co., Ltd is a Korea-based company engaged in the manufacture of petrochemicals. The Company and its subsidiaries operate its businesses through petrochemical division, which produces petrochemicals and specialized chemicals, including linear alkyl benzene (LAB), branched alkyl benzene (BAB), normal paraffin (NP), kerosene, parasol, heavy LAB, heavy BAB, tertiary alkyl benzene (TAB), linear alkylbenzene sulfonate (LAS), de-aromatized solvents, tertiary dodecyl mercaptan (TDM) and others; construction division, which constructs apartment buildings, public buildings, office buildings, roads, bridges, railways, plants and others, and fiber division, which produces knit fabrics and exports yarns. On November 1, 2013, the Company merged with its wholly owned subsidiary, ISU OIL & CHEMICAL CO, LTD.