Kumyang Co., Ltd. announced that it expects to receive KRW 7 billion in funding from NongHyup Bank, Investment Arm, Leading Investment & Securities Co., Investment Arm, Hanyang Securities Co., Ltd., Investment arm
August 24, 2020
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Kumyang Co., Ltd. (KOSE:A001570) announced a private placement of series 42 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 7,000,000,000 on August 25, 2020. The transaction will include participation from NongHyup Bank for KRW 5,000,000,000, Leading Investment & Securities Co., Investment Arm for KRW 1,000,000,000, Hanyang Securities Co., Ltd., Investment arm 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 August 27, 2025. The bonds are fully convertible into 1,690,821 common shares at a conversion price of KRW 4,140 starting from August 27, 2021 and ending on July 27, 2025. The transaction has been approved by the board of directors of the company. The payment and subscription date is August 27, 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 7 billion in funding from NongHyup Bank, Investment Arm, Leading Investment & Securities Co., Investment Arm, Hanyang Securities Co., Ltd., Investment arm
KUMYANG CO., LTD. 