YEST Co., Ltd. announced that it expects to receive KRW 35 billion in funding from Eugene Savings Bank Co., Ltd, Hana Securities Co., Ltd., Shinhan Investment & Securities Co., Ltd., EBEST Investment & Securities Co., Ltd., DB Financial Investment Co., Ltd., and other investors
April 16, 2023
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YEST Co., Ltd. announced a private placement of Series 6 Unsecured privately placed convertible bonds with bearer interest for gross proceeds of KRW 35,000,000,000 on April 17, 2023. The transaction included participation from new investors Eugene Savings Bank Co., Ltd, Hana Securities Co., Ltd., EBEST Investment & Securities Co., Ltd., DB Financial Investment Co., Ltd. for KRW 1000,000,000 by each, Shinhan Investment & Securities Co., Ltd. for KRW 2,000,000,000 and other investors. The bonds will carry 0% coupon rate, 5% yield to maturity rate, will mature on Apr 19, 2028 and will be 100% convertible into 3,434,402 common shares of the company at a fixed conversion price of KRW 10,191 per share from April 19, 2024 to March 19, 2028.
The transaction has been approved by the board of directors of the company. The payment date is on April 19, 2023. The securities issued are caring hold period of one year.
EBEST INVESTMENT & SECURITIES Co., Ltd., formerly E*TRADE Korea Co., Ltd, is a Korea-based company specialized in the provision of financial services. The Company is mainly engaged in the brokerage, dealing and underwriting of securities businesses, covering stocks, options, futures, government bonds, corporate bonds, foreign securities and financial derivatives products. It also involves in proprietary trading business, and provides consulting services. On March 8, 2013, 3Nod Digital Group Co., Ltd. announced that the Company had sold its entire 6.63% skake in 3Nod Digital Group Co., Ltd.
YEST Co., Ltd. announced that it expects to receive KRW 35 billion in funding from Eugene Savings Bank Co., Ltd, Hana Securities Co., Ltd., Shinhan Investment & Securities Co., Ltd., EBEST Investment & Securities Co., Ltd., DB Financial Investment Co., Ltd., and other investors