GNCO Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Synergy Asset Management Co., Ltd., Korea Securities Finance Corporation, Investment Arm and other investors
January 25, 2018
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GNCO Co., Ltd. (KOSDAQ:A065060) announced a private placement of 13th unregistered coupon unguaranteed private convertible bonds for the gross proceeds of KRW 20,000,000,000 on January 26, 2018. The payment date is schedule to be January 30, 2018. The transaction will include participation from Synergy Asset Management Co., Ltd. for KRW 2,500,000,000, Korea Securities Finance Corporation, Investment Arm; Fund 1 for KRW 1,000,000,000, Korea Securities Finance Corporation, Investment Arm; Fund 2 for KRW 9,000,000,000, Synergy 4th Industry No. 1 New Technology Investment Fund for KRW 6,000,000,000, Synergy- Hanhwa Mezzanine No. 1 New Technology Investment Fund, Synergy- Hanhwa Mezzanine No. 2 New Technology Investment Fund, Synergy- Hanhwa Mezzanine No. 3 New Technology Investment Fund for KRW 400,000,000 each respectively and Synergy- Hanhwa Mezzanine No. 4 New Technology Investment Fund for KRW 300,000,000. The bonds will mature on January 30, 2021. The bond carries zero coupon rate and yield to maturity is 3%. The bonds will be fully convertible into shares at a fixed conversion price of KRW 2,887 per share between January 30, 2019 to December 30, 2020. The transaction has been approved by board of directors of the company. The debt will be convertible into 6,927,606 shares.
GNCO CO. LTD. is a Korea-based company mainly engaged in the manufacturing and sale of casual apparels. The Company manufactures and sells womenâs and menâs casual apparels including outwear and underwear, and accessories including bags, shoes, ties, jewelries, gloves, among others under five brands, including Thursday Island, which is a urban vintage casual brand mainly for women; T.I FOR MEN, which is a men's casual brand mixing the formal and casual style; ELOQ, which is a unisex casual brand; LOUDMUT, a womenâs casual brand, and PHENOM, which is a concept store brand specializing in selling imported accessories in Northern European style. It distributes its products through distribution agencies, departments and online shopping malls www.gncostyle.com. In addition, the Company is involved in financial investment business.
GNCO Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Synergy Asset Management Co., Ltd., Korea Securities Finance Corporation, Investment Arm and other investors