Yoesu Green Energy announced that it expects to receive KRW 2 billion in funding from Namhae Chemical Corporation and other investors
Yoesu Green Energy announced a private placement of 400,000 common shares at a price of KRW 5000 per share for gross proceeds of KRW 2,000,000,000 on January 8, 2018. The shares are issued at par. The transaction will include participation from existing investors, including Namhae Chemical Corporation (KOSE:A025860) for 196,000 shares for gross proceeds of KRW 900,000,000. The company will allot 1 share per 1 existing share. The transaction was approved by the board of directors of the company and the investor. The transaction is expected to close on January 19, 2018.