ShinWon Corporation announced that it expects to receive KRW 25 billion in funding from KIWOOM CAPITAL Co., Ltd., Korea Investment Capital Co., Ltd
September 03, 2020
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ShinWon Corporation (KOSDAQ:A009270) announced a private placement of series 117 non-guaranteed private convertible bonds with domestic bearer interest for gross proceeds of KRW 25,000,000,000 on September 4, 2020. The transaction will include participation from KIWOOM CAPITAL Co., Ltd. and Korea Investment Capital Co., Ltd for KRW 12,500,000,000 each. The bonds will mature on September 8, 2023. The bonds will have a yield to maturity of 3% and a fixed coupon rate of 2% per annum. The bonds will be 100% convertible into common shares at a fixed price of KRW 1,465 per share, representing 17,064,846 for 18.86% stake in the company. The conversion period will start from September 8, 2021 and will end on September 5, 2023. The subscription date and payment date is September 4, 2020. The transaction has been approved by the board of directors of the company.
Shin Won Corporation is a Korea-based company mainly engaged in the manufacturing and sale of garments and handbags. The Company operates its business under two segments: export and fashion segments. Its export segment is engaged in the original equipment manufacturing (OEM) and distribution of knits, sweaters and handbags to the overseas countries. Its fashion segment provides apparels under the brand name of BESTI BELLI, SI, VIKI, ISABEY de PARIS, SIEG, SIEG FAHRENHEIT, VanHart di Albazar and Romeo Santamaria. The Company distributes its products through department stores, sales agencies and hotels.
SHINWON CORPORATION 
