Cosmo Chemical Co., Ltd. (KOSE:A005420) announced a private placement of 24th series bearer-owned interest-free private equity convertible bonds for gross proceeds of KRW 20,000,000,000 on March 4, 2020. The transaction will include participation from KB Securities Co.,Ltd for KRW 8,000,000,000, History Investment Advisory Co., Ltd. for KRW 2,000,000,000, SK Securities Co., Ltd. (KOSE:A001510) for KRW 1,000,000,000, Evest Investment Securities Co., Ltd. for KRW 1,000,000,000, Hana Ventures for KRW 1,000,000,000, retuning investors Shinhan Investment Corp. for KRW 4,000,000,000 and Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 3,000,000,000.

The bonds will not carry any coupon and yield to maturity. The bond would mature on March 4, 2024. The bonds are convertible into 2,267,573 shares representing 7.99% stake at a fixed conversion price of KRW 8,820 per share.

The conversion period will start on March 5, 2021 and end on February 05, 2024. The transaction is expected to close on March 5, 2020. The transaction has been approved by the board of directors of the company.