S POWER CO.,LTD. announced that it expects to receive KRW 55 billion in funding from Samchully Co., Ltd.
May 24, 2012 at 12:00 am EDT
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S POWER CO.,LTD. announced that it will raise KRW 55,000,000,000 in funding from returning investor Samchully Co., Ltd. on May 24, 2012. The company will issue 5,500,000 shares at a price of KRW 10,000 per share. The transaction is expected to close on May 30, 2012.
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.
SAMCHULLY CO.,LTD 
