Kemco Co., Ltd. announced that it expects to receive KRW 4.4 billion in funding from Korea Zinc Company, Ltd., LG Chem, Ltd., Young Poong Corporation

Kemco Co., Ltd. announced a private placement of 880,000 shares at a price of KRW 5,000 per share for the gross proceeds of KRW 4,400,000,000 on November 3, 2017. The company will issue common stock of by third party allotment. The transaction involved participation from Korea Zinc Co., Ltd. (KOSE:A010130), LG Chem, Ltd. (KOSE:A051910), Young Poong Corporation (KOSE:A000670) and Eunah Choi.

Korea Zinc Co., Ltd. (KOSE:A010130) has subscribed 500,000 shares, LG Chem, Ltd. (KOSE:A051910) had subscribed 200,000 shares, Young Poong Corporation (KOSE:A000670) had subscribed 100,000 shares, and Eunah Choi had subscribed 80,000 shares.