Miev Co., Ltd. (XKON:A225850) announced a private placement of series 3 unguaranteed private convertible bonds for gross proceeds of KRW 1,000,000,000 on December 18, 2017. The transaction will involve participation from new investor Wooridul Pharmaceutical Limited (KOSE:A004720). The bonds will be convertible into 161,290 shares of the company at a fixed conversion price of KRW 6,200 from December 20, 2018 to December 19, 2020.

The expected payment date and subscription date of the transaction is December 20, 2017. The bonds will carry a coupon rate of 1%. The bonds will have a yield to maturity of 3% and will mature on December 20, 2020.

The transaction was approved by the board of directors of the company.