Kumyang Co., Ltd. announced that it expects to receive KRW 20 billion in funding from a group of investors
February 15, 2021
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Kumyang Co., Ltd. (KOSE:A001570) announced a private placement of series 43 non- guaranteed private convertible bond for gross proceeds of KRW 20,000,000,000 on February 16, 2021. The transaction will include participation from new investors Samsung Securities Co. Ltd., Investment Arm through various funds for KRW 10,800,000,000, KB Securities Co., Ltd., Investment Arm through various funds for KRW 1,700,000,000, NH Investment & Securities Co., Ltd., Investment Arm through various funds for KRW 600,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm through its various funds for KRW 1,900,000,000, Hanyang Securities Co., Ltd., Investment arm for KRW 1,000,000,000, IBK Financial Group Synergy Ivy Mezzanine New Technology Fund, fund managed by IBK Capital Corporation for KRW 1,000,000,000, Synergy Shinhan Mezzanine New Technology Business Fund No. 2 for KRW 2,000,000,000, and Cornerstone Investment Partners Co.,Ltd for KRW 1,000,000,000. The coupon rate on bonds is 1% and interest rate to maturity is 3%. The bonds will mature on February 18, 2026. The bonds are fully convertible into 3,404,834 common shares at a conversion price of KRW 5,874 starting from February 18, 2022 and ending on January 18, 2026. The transaction has been approved by the board of directors of the company. The payment and subscription date is February 18, 2021.
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. 
