JB Financial Group Co., Ltd. announced that it has received KRW 15.86 billion in funding from Samyang Biopharm Corporation.
January 16, 2014 at 11:00 pm
Share
JB Financial Group Co., Ltd. (KOSE:A175330) announced a private placement of 3,158,398 shares at KRW 5,020 per share with existing investor, Samyang Biopharm Corporation for gross proceeds of KRW 15,855,157,960 on January 6, 2014. The investor will hold 12.04% stake in the company upon completion of the transaction. The settlement date for the transaction is January 17, 2014.
On January 17, 2014, JB Financial Group Co., Ltd. closed the transaction.
JB Financial Group Co Ltd is a Korea-based holding company mainly engaged in the financial industry. The Company operates its business through three segments. The Banking Business segment engages in the business of supplying funds in the form of short- and long-term loans to recipients of funds, using funds acquired in the form of deposits from the general public as the main source. The Specialized Credit Finance Business segment engages in the facility rental business, installment finance business, and new technology business finance business. The Other segment engages in collective investment business such as asset management business, investment advisory business, and discretionary investment business. In addition, this segment provides financial support and business management for subsidiaries.
JB FINANCIAL GROUP CO., LTD. 
