Insung C&S Co Ltd announced that it has received KRW 20 billion in funding from Daegu Department Store Co., Ltd.
December 08, 2016
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Insung C&S Co Ltd announced a private placement of 4,000,000 shares at a price of KRW 5,000 per share for gross proceeds of KRW 20,000,000,000 on December 9, 2016. The transaction has been approved by the board of directors of the company. The transaction included participation from existing investor, Daegu Department Store Co., Ltd. (KOSE:A006370). The investor retained 100% stake in the company. The company reported total assets of KRW 63,666,423,452, total liabilities of KRW 52,198,230,448, shareholders equity of KRW 11,468,193,004, capital of KRW 12,300,000,000, revenue of KRW 27,802,883, and net loss of KRW 1,107,212,016 for the year ended December 31, 2015.
DAEGU DEPARTMENT STORE CO., LTD. is a Korea-based company engaged in the operation of department stores. The Company operates its business through Debec Main Store and Debec Plaza. Through its department stores, its offerings are comprised of men's and women's apparel, shoes, bags, accessories, cosmetics, home appliances, electrical appliances, furniture, kitchen utensils foods and other miscellaneous goods. It also provides its products through its Internet shopping mall. In addition, it engages in the leasing business.
DAEGU DEPARTMENT STORE CO., LTD. 
