KOREA ASSET INVESTMENT CAPITAL Co., Ltd announced that it expects to receive KRW 50 billion in funding from Korea Asset In Trust Co., Ltd.
July 13, 2021
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KOREA ASSET INVESTMENT CAPITAL Co., Ltd announced a private placement of 10,000,000 common shares at a price of KRW 5,000 per share for the gross proceeds of KRW 50,000,000,000 on July 13, 2021. The transaction will include participation from returning investor Korea Asset In Trust Co., Ltd. The shares will be issued at par value. The transaction has been approved by board of directors of the investor. The company will raise the funds through shareholder allocation increase and cash acquisition method. The number of new shares allocated per share is 0.5. Post-closing of the transaction, investor will retain 100% stake in the company. The transaction is expected to close on July 29, 2021.
Korea Asset In Trust Co., Ltd is a Korea-based company mainly engaged in the provision of real estate trust services. The Company mainly engaged in the construction business of the entrusted real estates and maintenance and management business of the buildings. The Company also engaged in the leasing and distribution of real estates and other business related to the development and management of real estates. The Company also provides real estate financial products including asset backed securities (ABSs), mortgages, collateralized bond obligations (CBOs) and others.