Seojin Automotive Co.,Ltd. announced that it expects to receive KRW 15 billion in funding.
August 17, 2012 at 12:00 am EDT
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Seojin Automotive Co.,Ltd. (KOSE:A122690) announced a private placement of 15,000,000 preferred shares at KRW 1,000 per share for gross proceeds of KRW 15,000,000,000 on August 17, 2012. The record date for dividend payment of new shares is January 1, 2012, the scheduled delivery date of new share certificates is October 5, 2012, and the payment date for the transaction is September 20, 2012. On the same day, the board of directors approved the transaction.
On August 27, 2012, the company announced that the scheduled delivery date of new share certificates is September 18, 2012, and the payment date for the transaction is September 11, 2012.
Seojin Automotive Co., Ltd. is a Korea-based company engaged in the manufacture and distribution of automobile parts. The Company, along with its subsidiaries, mainly provides clutches, CAM shafts, cowls, bumpers, main cores, consoles, mounts, dampers, lower arms, spring pads, bearings, weather strips, glass runs, hoses, hoods, rear beams, under body skid plates, side sills, load floors, steering wheels, flywheels, metal molds, wheel covers and others, which are applied in the automobile transmission, brake and engine systems, automobile body and others. In addition, it is involved in the import and export of automobile parts. The Companyâs main clients include Hyundai Motor Co., Ltd, KIA Motors Corporation, Hyundai Mobis Co., Ltd and others.
SEOJIN AUTOMOTIVE CO.,LTD. 