DECO&E Co.,Ltd. announced that it expects to receive KRW 4.999999146 billion in funding
June 04, 2018
Share
DECO&E Co.,Ltd. (KOSDAQ:A017680) announced a private placement of 5,805,514 common shares at a price of KRW 689 per share for gross proceeds of KRW 3,999,999,146 and 42nd series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 1,000,000,000, for aggregate gross proceeds of 4,999,999,146 on June 4, 2018. The company will issue common stock of by third party allotment. The transaction will include participation from Star Camp 202 Co., Ltd. for KRW 2,999,999,704 and G2 Investment Co., Ltd. for KRW 999,999,442 in common shares and KRW 1,000,000,000 in bonds. The bonds carry coupon rate and yield to maturity of 3% and will mature on June 11, 2021. The bonds are convertible into 1,418,439 common shares of the company at a conversion price of KRW 705. The conversion period is from June 11, 2019 to May 11, 2021. The subscription and payment date is June 11, 2018. The transaction was approved by board of directors of the company. The securities being issued in the transaction are subject to a lock-up period of 1 year.
DECO&E CO., LTD., formerly DECO-NETISHION CO., LTD, is a Korea-based company engaged in the manufacture and distribution of women's apparels. The Company's apparel brands include Deco, which is in a luxury casual style; 96NY, which is in a modern and casual style; ANA CAPRI, which is in a feminine style. The Company provides its products through department stores and commercial agents.