UI Trans Corporation announced that it has received KRW 4.94 billion in funding from POSCO Engineering & Construction Co., Ltd., Posco ICT Company Ltd., and other investors.
January 22, 2013 at 11:00 pm
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UI Trans Corporation announced that it will raise KRW 4,940,030,000 in funding on January 15, 2013. The company will issue 988,006 common shares at KRW 5,000 per share in the transaction to existing shareholders. 0.1170347 new shares will be issued for every existing share held. The subscription period will start on January 18, 2013. The payment date will be January 22, 2013. On the same date, the board of directors of the company approved the transaction. Seven fractional shares will be allocated to Korea Development Corporation Co., Ltd. The payment from Korea Development Corporation Co., Ltd. and WonHaConstruction Co.,Ltd will be set-off with the construction fee the company has to pay.
On January 23, 2013, UI Trans Corporation closed the transaction. Existing investor POSCO Engineering & Construction Co., Ltd. subscribed to 46,393 shares for KRW 231,965,000 and now holds 27.31% stake. Another existing investor, Posco ICT Company Ltd. subscribed to 18,530 shares for KRW 92,650,000 and now holds 10.91% stake in the company.
Posco DX Co Ltd, formerly Posco ICT Co Ltd, is a Korea-based company mainly engaged in the provision of engineering and information technology (IT) services. The Company provides consulting services, such as business consulting and consulting on solutions; information and communications technology (ICT) services, such as establishment of information systems, network integration, ICT outsourcing services and others; engineering services and automation services, as well as infrastructure services, such as network, data center and cloud computing. Its services are applied in the steel, logistics, railway, environment, energy, airport and other industries. It also involves in the development and maintenance of systems. In addition, the Company manufactures industrial light emitting diode (LED) products.
UI Trans Corporation announced that it has received KRW 4.94 billion in funding from POSCO Engineering & Construction Co., Ltd., Posco ICT Company Ltd., and other investors.