Samhwa Paints Industrial Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Shinhan Investment Corp., Investment Arm, Meritz Securities Co., Ltd., Investment Arm
July 18, 2018
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Samhwa Paints Industrial Co., Ltd. (KOSE:A000390) announced a private placement of 18th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on July 18, 2018. The transaction will include participation from new investors Shinhan Investment Corp., Investment Arm, for proceeds of KRW 5,000,000,000, Meritz Securities Co., Ltd., Investment Arm, for proceeds of KRW 3,000,000,000, Anda Mezzanine Hedge Fund 5 for proceeds of KRW 4,000,000,000, Anda Cruise Hedge Fund 1 for proceeds of KRW 500,000,000, Anda Planet Hedge Fund 1 for proceeds of KRW 3,500,000,000, GVA Universe Hedge Fund for proceeds of KRW 500,000,000, GVA KOSDAQ Venture Hedge Fund for proceeds of KRW 200,000,000, GVA KOSDAQ IPO-I Hedge Fund for proceeds of KRW 300,000,000, Rhinos Korea Global Dual Mezzanine Hedge Fund for proceeds of KRW 1,000,000,000, Rhinos Global Mezzanine Plus Hedge Fund for proceeds of KRW 1,000,000,000, Rhinos KOSDAQ Venture Mezzanine Hedge Fund 1 for proceeds of KRW 500,000,000, and Rhinos K Bio Mezzanine Hedge Fund for proceeds of KRW 500,000,000. The bonds carry a zero coupon rate and yield to maturity of 1.5%. The bonds are issued at par and will mature on July 20, 2023. The bonds will be fully convertible into common shares of the company at a conversion price of KRW 7,846 per share from July 20, 2019 to July 20, 2023. The company will issue 2,549,069 shares upon conversion of bonds. The subscription date and payment date is July 20, 2018. The transaction has been approved by the board of directors of the company.
SAMHWA PAINTS INDUSTRIAL CO., LTD. is a Korea-based company mainly engaged in the production and sale of paints. Along with subsidiaries, the Company operates its business through four segments. The Paint Segment manufactures and sells architectural, industrial paints. It is also involved in the production and sale of paints for phase change materials (PCMs). The Transportation Arrangement segment provides transportation and storage services for raw materials and products. The Information Technology (IT) segment is involved in the provision of information system development and management, consulting and other services. The Financial segment provides retail financial services. The Company distributes its products within the domestic market and to overseas markets, including Asia and Europe.
Samhwa Paints Industrial Co., Ltd. announced that it expects to receive KRW 20 billion in funding from Shinhan Investment Corp., Investment Arm, Meritz Securities Co., Ltd., Investment Arm