Bioneer Corporation announced that it expects to receive KRW 4.9000392 billion in funding from GK Asset Co.,Ltd.
Bioneer Corporation (KOSDAQ:A064550) announced a private placement of 633,080 common shares of face value KRW 500 per shares at an issue price of KRW 7,740 per shares for gross proceeds of KRW 4,900,039,200 through third-party allotment on October 14, 2016. The transaction will include participation from returning investors GK Asset Co.,Ltd. for 361,760 shares, Lee Sunok for 129,200 shares, Kim Euideuk for 64,600 shares, Kim Hyesung for 64,600 shares, Oh Eunok for 6,460 shares and Yoo Taehee for 6,460 shares. The transaction has been approved by the board of directors of the company. The shares to be issued are subject to a hold period of 1 year.