Saehwa IMC Co., Ltd. announced that it expects to receive KRW 2.9 billion in funding from Woosung Corporation Co.,Ltd.
January 30, 2020
Share
Saehwa IMC Co., Ltd. (KOSE:A145210) announced a private placement of 5,800,000 shares at an issue price of KRW 500 per share for gross proceeds of KRW 2,900,000,000 on January 31, 2020. The transaction will include participation from returning investor Woosung Corporation Co.,Ltd. The shares have a face value of KRW 500 per share. The company will issue shares through third party allocation method. The transaction has been approved by the board of directors of the company. All shares issued or issuable in the transaction are subject to a hold period of 3 years. The payment date of the transaction is February 10, 2020.
Dynamic Design Co Ltd, formerly Saehwa IMC Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of tire molds. The Company operates its business through three segments. The Tire Mold segment is engaged in the manufacture and sale of tire molds and accessory molds. The Tire Manufacturing Equipment segment is engaged in the manufacture of tire manufacturing equipment such as molding machines, drums, among others. The Other segment is engaged in the manufacture of masks. The Company sells its products within domestic to foreign markets.
DYNAMIC DESIGN CO., LTD. 
