Kumkang Kind Co., Ltd. announced that it expects to receive KRW 28 billion in funding from Shinhan Investment Corp.
July 03, 2018
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Kumkang Kind Co., Ltd. (KOSE:A014280) announced a private placement of 45th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 28,000,000,000 on July 4, 2018. The transaction will include participation from new investors, Shinhan Investment Corp. for KRW 22,000,000,000, Rhinos Korea Global Dual Mezzanine Private Securities Investment Trust 1 for KRW 1,000,000,000, Rhinos Global Mezzanine Plus Private Investment Trust 1 for KRW 1,000,000,000, Rhinos KOSDAQ Venture Private Investment Fund 1 for KRW 1,500,000,000, Rhinos K Bio Mezzanine Private Investment Fund for KRW 1,000,000,000, Rhinos Plain Vanilla Private Investment Fund 2 for KRW 500,000,000, and Rhinos KOSDAQ Venture PO stocks Private Investment Fund 1 for KRW 1,000,000,000. The bonds are zero-coupon and will mature on July 6, 2023. The bonds are 100% convertible into 973,236 common shares at a conversion price of KRW 28,770. The conversion period will start from July 6, 2019 to June 6, 2023. The bonds will be issued at par. The transaction has been approved by the board of directors of the company. The subscription and payment date is July 6, 2018.
KUMKANG KIND CO., LTD. is a Korea-based company mainly engaged in the manufacture and distribution of steel pipe products. The Companyâs products consist of steel pipes, including carbon steel pipes, square and rectangular tubes, rigid steel conduits, color coated square pipes, fence tubes and structure tubes, which are used for civil engineering, water and sewage systems, scaffolding, steel towers, automobiles and other industries; formworks, including aluminum formworks, gang formworks and special formworks, which are used in architecture and civil engineering areas; scaffolds, including clamps, scaffolding pipes, working boards and shipyard scaffolds, as well as modular building systems. It also provides by-products and raw materials. On January 1, 2013, the Company completed the merger with its wholly owned subsidiary, KUMKANG FOSTEM CO.LTD, which is mainly engaged in the construction facilities.
KUMKANG KIND CO., LTD. 
