ChinHung International, Inc. announced that it expects to receive KRW 8.6724794 billion in funding from a group of investors

ChinHung International, Inc. (KOSE:A002780) announced a private placement of 4,000,282 common stock at a price of KRW 850 per share from the largest shareholder Hyosung Corp., 1,188,895 shares at price of KRW 2860 from Creditor financial institutions and 468,000 shares at a price of KRW 4000 from Seoul Mutual Savings Banks on June 2, 2017. The Shares will be issued through third party allotment method. The shares will have a lock up period of one year.

Payment date of the shares is June 13, 2017. The new shares will be eligible for dividend payment on January 1, 2018.