Sewoo Global Co. Ltd. announced that it expects to receive KRW 7 billion in funding
October 19, 2017
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Sewoo Global Co. Ltd. (KOSE:A013000) announced a private placement of 24th unregistered unguaranteed private convertible bonds for gross proceeds of KRW 7,000,000,000 on October 19, 2017. The transaction will include participation from Beak-Soon Ahn. The bonds do not carry any annual coupon and have yield to maturity of 3%. The bonds will mature on November 13, 2022. The bonds are fully convertible into 4,450,095 common shares of the company at a fixed conversion price of KRW 1,573 per conversion share from November 13, 2018 to October 13, 2022. The payment date of the transaction is November 13, 2017. The transaction has been subscribed for and has been approved by the board of directors of the company.
On November 13, 2018, the company announced that the bonds will be fully convertible into 5,014,326 common shares of the company at a fixed conversion price of KRW 1,396 per conversion share from November 13, 2018 to October 13, 2022.
SEWOO GLOBAL CO., LTD is a Korea-based company mainly engaged in the wholesale and retail of plastic raw materials. The Company mainly provides acrylonitrile butadiene styrene (ABS) resins, which are plastic raw materials used as home appliance parts, as well as automobile exterior and interior parts. The Company is the domestic agent of SABIC INNOVATIVE PLASTIC, and has partnerships with SOLVAY, BASF, MITSUBISHI, CHEVRON PHILLIPS and others. In addition, the Company is engaged in the manufacturing and distribution of printed circuit boards (PCB) through its subsidiaries. It also engages in the rental business. The Company distributes its products within domestic market and to overseas markets, including China, Southeast Asia, and other areas.