Asia Seed Co., Ltd. announced a private placement of round 3 registered convertible bonds for gross proceeds of KRW 1,500,000,000 on November 4, 2014. The transaction will include participation from Mirae Asset Agro Project Investment Fund and Mirae Asset Venture Investment Co. Ltd. for KRW 1,000,000,000 and KRW 500,000,000 respectively.

The bonds will carry an interest of 2% per annum and a yield to maturity of 5% per annum. The bonds will mature on November 6, 2017. The bonds will be fully convertible into common shares at a conversion price of KRW 4,045 per share.

The conversion period of the bonds will be from November 6, 2015 to November 5, 2017. The subscription and the payment date for the bonds are expected on November 6, 2014. The transaction was approved by the board of directors of the company.