Hyundai Asan Corporation announced that it has received KRW 10.84 billion in funding from Hyundai Merchant Marine Co. Ltd., Hyundai Securities Co., Ltd., Hyundai Ubiquitous & Information Technology Co., Ltd., and other investors.
December 20, 2013 at 04:00 am
Share
Hyundai Asan Corporation announced a private placement of 2,600,000 common shares at a price of KRW 5,000 per share with existing investors for gross proceeds of KRW 13,000,000,000 on October 21, 2013. The company will issue 0.1226015 new shares for each existing share held. The subscription period will start on December 16, 2013 and end on December 17, 2013. The payment date is December 19, 2013. The board of the company approved the transaction.
On December 20, 2013, Hyundai Asan Corporation closed the transaction. The company issued 2,168,978 shares for gross proceeds of KRW 10,844,890,000. The round included participation from existing investors Hyundai Merchant Marine Co. Ltd., Hyundai Securities Co., Ltd., and Hyundai Ubiquitous & Information Technology Co., Ltd. along with various individual investors. Hyundai Merchant Marine Co. Ltd. subscribed for 1,766,558 shares and holds a 67.58% stake, Hyundai Securities Co., Ltd. subscribed for 102,600 shares and holds a 4.98% stake, and Hyundai Ubiquitous & Information Technology Co., Ltd. subscribed for 54,650 shares and holds 2.09% stake.
Huyndai Movex Co Ltd, formerly NH Special Purpose Acquisition 14 Co Ltd, is a Korea-based company principally engaged in information technology (IT) business. The Company mainly engaged in the IT business including system consulting and software development, among others; and the logistics business including distribution system installation, platform safety door installation, and others.
Hyundai Asan Corporation announced that it has received KRW 10.84 billion in funding from Hyundai Merchant Marine Co. Ltd., Hyundai Securities Co., Ltd., Hyundai Ubiquitous & Information Technology Co., Ltd., and other investors.