Jooyontech Co., Ltd. announced that it expects to receive KRW 10.99999747 billion in funding from Hwapyong Holdings Co., Ltd., Bel Air Investment Co., Ltd., Tway Holdings Incorporation
May 08, 2016
Share
Jooyontech Co., Ltd. (KOSE:A044380) announced a private placement of 14,285,711 common shares at an issue price of KRW 770 per share for gross proceeds of KRW 10,999,997,470 on May 9, 2016. The transaction involved participation from returning investor, Hwapyong Holdings Co., Ltd. for 6,493,506 shares, and new investors, Tway Holdings Incorporation (KOSE:A004870) for 2,597,402 shares, Bel Air Investment Co., Ltd. for 649,350 shares, Taegon Kim for 1,948,051 shares, and Sangbum Kim for 2,597,402 shares. The shares to be issued have the face value of KRW 100 per share. The company will raise funding through third party allotment method. The payment date is June 1, 2016. The transaction has been approved by the board of directors of the company. The shares are scheduled to be listed on June 17, 2016. The shares issued in the transaction have a hold period of one year, post the closing.
On May 18, 2016, company announced that Hyunjung Choi will participate in the transaction for 1,948,051 shares instead of Taegon Kim.
JOOYONTECH CO., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of personal computers (PCs) and computer peripheral products. The Companyâs products portfolio consists of PC desktops, liquid emitting diode (LED) monitors for PC use, and computer peripheral products, such as mouse, keyboards, speakers and others under the brand name JOOYONTECH Computer. In addition, the Company is involved in the distribution of its PC products through local agents, service centers and other distributors, such as Internet shopping malls, television and home shopping channels, discount stores and others. The Company distributes its products within domestic market and to overseas markets.
Jooyontech Co., Ltd. announced that it expects to receive KRW 10.99999747 billion in funding from Hwapyong Holdings Co., Ltd., Bel Air Investment Co., Ltd., Tway Holdings Incorporation