ISU Engineering & Construction Co., Ltd. announced that it expects to receive KRW 69.99999712 billion in funding from ISU Chemical Co., Ltd
March 09, 2021
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ISU Engineering & Construction Co., Ltd. announced that it will issue 11,804,384 common shares at a price of KRW 5,930 for gross proceeds of KRW 69,999,997,120 on March 10, 2021. The transaction will involve participation from returning investor ISU Chemical Co., Ltd (KOSE:A005950). Post completion of the transaction, the investor will own 85.09% stake in the company and the number of shares owned will increase from 13,619,731 shares to 25,424,115 shares. The face value per share is KRW 1,000. The number of new shares allocated per share is 0.6530397. The transaction has been approved by the board of directors of the investor. The transaction is expected to close on March 30, 2021.
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.
ISU CHEMICAL CO., LTD 
