Guyoung Tech. Co., Ltd. announced that it expects to receive KRW 1 billion in funding.
March 28, 2014 at 04:00 am
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Guyoung Tech. Co., Ltd. (KOSDAQ:A053270) announced a private placement of 429,500 treasury shares at KRW 2,340 per share for gross proceeds of KRW 1,005,030,000 on March 28, 2014. The shares will be issued off-the-market and the subscription period will be from March 31, 2014 till April 4, 2014. Woori Investment & Securities Co. Ltd. will act as the placement agent to the company in the transaction. The share price is the average of the standard recent 14 business day average closing price. The transaction was approved by the board of directors of the company.
On April 4, 2014, the company amended the terms of the transaction. The company will issue the shares at KRW 2,100 per share for gross proceeds of KRW 901,950,000.
GUYOUNGTECHNOLOGY COMPANY LIMITED is a Korea-based company engaged in the original equipment manufacturing (OEM) of automobile parts. The Company produces body and chassis parts, including seat assemblies, hinge assemblies, hook assemblies, bracket assemblies and others, and power trains, including bracket assemblies, cover assemblies and pan assemblies. Through its subsidiaries, it also produces large body parts, small body parts and chassis parts of automobiles, as well as operates gas stations and cargo terminals.
GUYOUNG TECHNOLOGY CO., LTD 
