Samick Indonesia, Pt announced that it has received KRW 19.36 billion in funding from Samick Musical Instruments Co., Ltd.
September 30, 2013 at 12:00 am
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Samick Indonesia, Pt announced a private placement of 180,000 shares at a price of KRW 107,560 per share with existing investor, Samick Musical Instruments Co., Ltd. for gross proceeds of KRW 19,360,800,000 on September 30, 2013. The investor holds 99.36% stake in the company upon closing. The board of the investor approved the transaction. The scheduled investment date is September 30, 2013. The company reported total assets of KRW 45,852,000,000 total stockholders' equity of KRW 8,468,000,000, revenues of KRW 67,057,000,000, and net profit of KRW 283,000,000 for the year ending December 31, 2012.
On September 30, 2013, Samick Indonesia, Pt closed the transaction.
SAMICK MUSICAL INSTRUMENT Co., Ltd is a Korea-based company mainly engaged in the manufacture and sale of musical instruments. The Company mainly manufactures pianos, including acoustic pianos with grand and upright series, and digital pianos. It also produces other musical instruments, such as guitars, violins, bass amplifiers, cellos, flutes, trumpets, saxophones, clarinets, ocarinas, harmonicas, drums, mixers, amplifiers and others. In addition, the Company engages in the piano rental and real estate rental businesses. The Company distributes its products within domestic market and to overseas markets. On September 16, 2014, it acquired land and building located in Seoul, for rental business.
SAMICK MUSICAL INSTRUMENT CO., LTD 
