Kumyang Co., Ltd. announced that it expects to receive KRW 5 billion in funding from KB Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm
December 19, 2017
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Kumyang Co., Ltd. (KOSE:A001570) announced a private placement of 27th series unregistered coupon unguaranteed private exchangeable bonds for gross proceeds of KRW 5,000,000,000 on December 20, 2017. The bonds will mature on December 22, 2020. The transaction will include participation from Hands Partners Limited Company for KRW 1,000,000,000, Ace Susung New Technology Fund 3 for KRW 1,000,000,000, existing investor KB Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, Samsung Securities Co. Ltd., Investment Arm for KRW 1,400,000,000, and Shinhan Investment Corp., Investment Arm for KRW 600,000,000. The bonds will not bear yield to maturity and coupon rate. The bonds will be convertible into 2,040,816 common shares of the company at a rate of 100% and at a fixed conversion price of KRW 2,450 per share. The bonds will be issued at par value. The conversion period will start on January 2, 2018 and will end on November 3, 2020. The transaction subscription and payment date is December 22, 2017. The transaction has been approved by the board of directors of the company.
Kumyang Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of blowing agents. The Company operates its business through two segments. The Chemical Product Sales Business segment is mainly engaged in the manufacture and sale of rubber and synthetic resin blowing agents. In addition, the segment is engaged in the blowing agents raw materials. Besides, the segment is engaged in the manufacture and sale of blowing agents related products. The Other Sales segment is mainly engaged in the rental business.
Kumyang Co., Ltd. announced that it expects to receive KRW 5 billion in funding from KB Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm