Financing Completed Through Issuance of Shares of Shinhwa World Co., Ltd

Posted on by cebu220815@gmail.com

Hong Kong-listed casino developer Shinhwa World Inc. is the founder of Jeju Shinhwa World (pictured), a complex with foreigner-only casinos in Jeju, South Korea, and said it raised just under HK$28.74 million ($3.67 million) through a share subscription agreement.

The company said in a filing on Wednesday that the event was completed that day. It issued 845.25 million new shares at HK$0.034 per subscription.

The company said in a March 4 announcement that it would use about HK$14 million of its net proceeds to “upgrade, repair and maintain existing buildings, equipment and facilities” within Jeju Myths World.

It said another HK$10 million was for “interest payments” and about HK$4.5 million for “sales and marketing promotional and advertising costs”.

After training, the company’s public default decreases from 38.14% to 31.78%.

Chairman Yang Zhihui, the largest individual shareholder, remains the group’s founding chairman, but his stake has been diluted from 35.06% to 29.21%.

Yang indirectly holds just over 1.48 billion shares through his wholly owned company, Landing International Inc.

In June, it was announced that Yang was retiring as a director of Shinhwa World Inc.

BY: 바카라사이트

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103 thoughts on “Financing Completed Through Issuance of Shares of Shinhwa World Co., Ltd”

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