Myungjin Holdings. Corp. (XKON:A267060) announced a private placement of registered private convertible bonds for gross proceeds of KRW 500,000,000 on August 13, 2018. The transaction will include participation from new investor KEB Hana Bank. The bonds will carry interest and yield to maturity of 5.12% and matures on August 14, 2020. The bonds are convertible into 50,000 shares at a fixed conversion price of KRW 10,000 per share representing 0.68% stake in the company. The conversion period will start from February 13, 2019 and end on August 13, 2020. The subscription and payment date is August 14, 2018. The transaction has been approved by the board of directors of the company. The bonds are restricted for a period of 1 year.