Aplus Asset Advisor Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Lotte Insurance Co., Ltd., Dongbu Life Insurance Co., Ltd. and other investors
May 23, 2017
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Aplus Asset Advisor Co., Ltd. announced a private placement of first round unregistered coupon unguaranteed detachable bonds and warrants for gross proceeds of KRW 20,000,000,000 on May 24, 2017. The bonds will be issued at par. The bonds carry fixed coupon rate of 1% and yield to maturity of 4% per annum. The bonds mature on May 25, 2019. The warrants are 100% convertible into registered common stock of the company at KRW 7,000 per share from May 25, 2018 to May 25, 2022. New investors Dongbu Life Insurance Co., Ltd. and Dongbu Life Insurance Co., Ltd. will subscribe to bonds for gross proceeds of ¥400,000,000 each. The transaction has been approved by board of directors of the company. The subscription and payment date is May 25, 2017.
A Plus Asset Advisor Co Ltd is a Korea-based company mainly engaged in the insurance agency and brokerage business. In partnership with domestic life insurance and non-life insurance enterprises, the Company provides insurance financial services to customers by comparing and analyzing insurance product coverage, return on investment, and product prices from the customer's point of view. In addition, the Company brokers and sells products of affiliated companies such as mutual aid services, cell banking, long-term care services, and real estate brokerage services. The Company also engages in the loan business.
Aplus Asset Advisor Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Lotte Insurance Co., Ltd., Dongbu Life Insurance Co., Ltd. and other investors