Nature & Environment Co., Ltd. announced that it expects to receive KRW 4.01 billion in funding
August 03, 2016
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Nature & Environment Co., Ltd. (KOSDAQ:A043910) announced a private placement of 1,500,000 common shares at a price of KRW 2,675 per share for gross proceeds of KRW 4,012,500,000 on August 4, 2016. The transaction will include participation from Traum Investment Co., Ltd. for 600,000 shares and Kyungsim Seo for 225,000 shares. The shares will be issued by third party allotment. The shares will have a lock in period of one year. The transaction has been approved by the company's board of directors. The company expects to close the transaction on August 19, 2016. The shares will be issued at a discount of 10%.
Nature & Environment Co., Ltd. is a Korea-based company engaged in the steel business and environmental restoration businesses. Its steel business provides stainless steel pipes and other steel products, which are used for piping, boilers, heat exchangers and others. Its environmental restoration business includes restoration business, which produces geo green cells, blocks, walls and others used in river restoration constructions; landscaping business, which mainly provides grass for landscaping constructions, and water business, which provides water, soil and lakes purification services.