Samchully Energy Solution. Co., Ltd announced that it expects to receive KRW 30 billion in funding from Samchully Co.,Ltd
June 13, 2018
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Samchully ES Co., Ltd. announced that it will issue 6,000,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 30,000,000 with returning investor, Samchully Co.,Ltd (KOSE:A004690) on June 14, 2018. On closing, the investor will retain its 100% stake in the company. The transaction is expected to close on June 22, 2018.
Samchully Co., Ltd. is a Korea-based company engaged in the provision of city gas. Along with its subsidiaries, the Company operates five business segments: city gas segment, which mainly supplies liquefied natural gas (LNG) to residential and commercial customers in Gyeonggi-do and Incheon-si; group energy business segment, which supplies heating and electricity; plant segment, which involves in the gas and heating pipelines, and cooling and heating construction business; resource development segment, which mainly sells oil and gas, and other business segment, which involves in the water projects, new and renewable energy business, asset management, catering business and others.