Kumyang Co., Ltd. announced that it expects to receive KRW 17 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd., Mirae Asset Daewoo Co., Ltd., Investment Arm, eBest Investment Securities Co., Ltd., Investment Arm
August 06, 2020
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Kumyang Co., Ltd. (KOSE:A001570) announced a private placement of series 41 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 17,000,000,000 on August 7, 2020. The transaction will include participation from existing investor SUSUNG ASSET MANAGEMENT Co., Ltd. for KRW 2,500,000,000, Synergy-NH Mezzanine Blind New Technology Business Fund 1 for KRW 800,000,000, Synergy Begin Again New Technology Business Fund for KRW 200,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, eBest Investment Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, and other investors for KRW 11,500,000,000. The coupon rate on bonds is 1% and interest rate to maturity is 3%. The bonds will mature on August 11, 2025. The bonds are fully convertible into 3,620,873 common shares at a conversion price of KRW 4,695 starting from August 11, 2021 and ending on July 11, 2025. The transaction has been approved by the board of directors of the company. The bonds to be issued will have the hold period of one year, post the closing. The payment date is August 11, 2020.
KUM YANG CO., LTD. is a Korea-based company engaged in the manufacture and sale of chemicals and related products. The Company's product portfolio consists of chemical blowing agents, which are chemical additives used to evolve gas through thermal decomposition and produce foam structures in a polymeric matrix; capsulated blowing agents, which are used for polyvinyl chloride (PVC) sandals, artificial leather, screen printing, printing ink and other areas; master batches, which make processing circumstance clean without flowing powders and chemicals loss; titanium dioxides, which are used for coating industry, plastics and others, as well as flame retardant and other products. The Company distributes its products within domestic market and to overseas markets. On February 26, 2014, it acquired whole shares of KUMYANG NEIMENGGU CHEMICAL CO.,LTD, a China-based blowing agent manufacturing company. After that, the Company holds 100% of KUMYANG NEIMENGGU CHEMICAL CO.,LTD.
Kumyang Co., Ltd. announced that it expects to receive KRW 17 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd., Mirae Asset Daewoo Co., Ltd., Investment Arm, eBest Investment Securities Co., Ltd., Investment Arm
KUMYANG CO., LTD. 