ATLASBX Motor Sports Co., Ltd. announced that it expects to receive KRW 500 million in funding from Hankook Atlasbx Co.,Ltd.
Atlasbx Motor Sports announced that it will issue 100,000 common shares at a price of KRW 5,000 for gross proceeds of KRW 500,000,000 in a round of funding on September 19, 2019. The transaction will include participation from Hankook Atlasbx Co.,Ltd. (KOSDAQ:A023890). Post the closing, investor will hold 100% stake in the company. The transaction has been approved by board of director of the investor.