Infohub.co announced that it expects to receive KRW 20 billion in funding.
May 08, 2014 at 12:00 am EDT
Share
infohub.co announced a private placement of 40,000,000 common shares at KRW 500 per share for gross proceeds of KRW 20,000,000,000 with existing shareholders on May 8, 2014. The shares to be issued have face value of KRW 500 per share. The company will allocate 5.7142857 new shares for every existing share held. The plan for forfeited shares will be decided by board of directors of the company. The subscription period will start on June 12, 2014 and end on June 13, 2014. The payment date will be June 16, 2014. The transaction was approved by board of directors of the company.
On May 15, 2014, the company announced that it has amended the terms of the transaction. The subscription period will now start and end on June 27, 2014. The payment date will now be June 30, 2014.
On June 24, 2014, the company announced that the transaction will include participation from existing investor, Galaxia Communications Co., Ltd, which will invest KRW 10,934,362,500 and will hold 54.67% stake of the company on closing of the transaction. The subscription by Galaxia Communications Co., Ltd has been approved by board of directors of the company.
On June 28, 2014, the company amended the terms of the transaction. The company will now issue 21,952,402 shares for gross proceeds of KRW 10,976,201,000. The board of directors approved the amendment.
Galaxia Moneytree Co Ltd, formerly Galaxia Communications Co Ltd, is a Korea-based company mainly engaged in the electronic payment business. The Company operates its business through three segments. The Electronic Payment Business segment provides services such as mobile phone micro payment, credit card payment, and account transfer. The Online to Offline (O2O) Business segment issues and operates mobile department store gift certificates, and mobile coupons such as cafes and beauty, and provides prepaid payment services such as convenience store prepaid payment, electronic civil service cash, and convenience store payment. The Other Business segment is engaged in the operation of a mobile financial platform under the name of Money Tree and a video content platform under the name of ppom.
GALAXIA MONEYTREE CO., LTD. 