Maniker Co., Ltd. announced that it expects to receive KRW 13.999999992 billion in funding from CJ Cheiljedang Corporation
June 08, 2018
Share
Maniker Co., Ltd. (KOSE:A027740) announced a private placement of 16,336,056 common shares at an issue price of KRW 857 per share for gross proceeds of KRW 13,999,999,992 on June 8, 2018. The transaction will involve participation from new investor CJ Cheiljedang Corporation (KOSE:A097950). The shares were issued at a premium and will be subject to a hold period of 1 year.
Post the closing of the transaction, the shares issued by the company will increase from 116,725,477 to 133,061,533. The transaction is expected to close on June 25, 2018. The transaction was approved by the board of directors of the company.
MANIKER.CO.,LTD is a Korea-based company mainly engaged in the manufacturing and distributing of chicken products. The Company mainly provides fresh meat such as whole chicken used for home cooking, partial meat, organic livestock products, marinated meat, fried meat and processed meat including barbeque meat, chicken hams and sausages, fried chicken, meatballs and salted meat. The Company also provides live chickens, chicks and rendering feeds. Along with its subsidiaries, the Company operates its business through four segments: chicken manufacture segment, which manufactures chicken products; livestock segment, which is engaged in manufacturing of hatching eggs; chicken processing segment, which is engaged in the manufacture of processed products, and museum segment, which operates museums and chain stores.