BINEX Co., Ltd. announced that it expects to receive KRW 50 billion in funding from Kiwoom Securities Co., Ltd., Aju IB Investment Co., Ltd., Kiwoom Private Equity, Inc.
September 28, 2020
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BINEX Co., Ltd. (KOSDAQ:A053030) announced private placement of series 6 non-guaranteed private equity exchange bonds for gross proceeds of KRW 12,000,000,000 and series 5th non-guaranteed private equity convertible bond for the gross proceeds of KRW 38,000,000,000 on September 28, 2020. The transaction will include participation from new investors Kiwoom Securities Co., Ltd. (KOSE:A039490) for KRW 2,000,000,000, Kiwoom Private Equity Aju First New Technology Business Investment Association, a fund co-managed by Kiwoom Private Equity, Inc. and existing investor Aju IB Investment Co., Ltd. (KOSDAQ:A027360) for KRW 10,000,000,000. The series 6 non-guaranteed private equity exchange bonds will be issued at par and does not bears any interest.
The series 6 non-guaranteed private equity exchange bonds will mature on October 6, 2025 and is redeemable at par on certain dates. The series 6 non-guaranteed private equity exchange bonds are convertible into 387,722 shares representing 1.21% stake in the company, at a fixed conversion price of KRW 30,950 per share starting from April 6, 2021 and ending on September 6, 2025. The expected payment date is October 6, 2020.
The transaction has been approved by the board of directors of the company.
AJU IB INVESTMENT Co., Ltd. is a Korea-based company mainly engaged in the venture capital (VC) business and private equity (PE) business. The Company invests in small to medium enterprises (SMEs) and venture companies, provides initial public offering (IPO), merger and acquisitions (M&A), secondary support services, among others. The Company also operates private equity funds (PEF), provides mezzanine, buyout and corporate restructuring services.
BINEX Co., Ltd. announced that it expects to receive KRW 50 billion in funding from Kiwoom Securities Co., Ltd., Aju IB Investment Co., Ltd., Kiwoom Private Equity, Inc.