Uni-Chem Co., Ltd. announced that it expects to receive KRW 2 billion in funding
November 20, 2018
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Uni-Chem Co., Ltd. (KOSE:A011330) announced a private placement of 16th series unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 2,000,000,000 on November 21, 2018. The transaction will involve the participation from new investors, Asam Mezzanine Plus Hedge Fund for KRW 400,000,000, Asam Mezzanine Plus Hedge Fund 2 for KRW 300,000,000, Dooyoung Ham for 200,000,000, and other investors. The bonds will be issued at par, will carry no coupon and yield to maturity rate of 2%. The bonds will mature on November 23, 2021. The bonds are 100% convertible into 1,339,584 common shares for 2.2% equity stake in the company, at a price of KRW 1,493 per share. The conversion period is from November 23, 2019 to October 23, 2021. The subscription date and payment date is November 23, 2018.
UNI CHEM.CO.,LTD. is a Korea-based company mainly engaged in the leathers manufacturing. The Company produces and distributes drum dyed leathers, soft and thin leathers, full grain leathers, shrunken leathers, vegetable tanned leathers, chrome free leathers and automotive leathers for dresses, handbags, gloves and women shoes, wallets, car seat coverings and steel wheels. The Company distributes its products within domestic market and to overseas markets.