The Asia Business Daily Co., Ltd. announced that it expects to receive KRW 20 billion in funding from IBK Securities Co. Ltd., Synergy Asset Management Co., Ltd., HisStory Investment Management and another investor
February 02, 2018
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The Asia Business Daily Co., Ltd. (KOSDAQ:A127710) announced a private placement of round 2nd unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on February 2, 2018. The transaction will include participation from new investors IBK Securities Co. Ltd. for KRW 12,200,000,000, Synergy Asset Management Co., Ltd. for KRW 3,500,000,000, Synergy Asset Management Co., Ltd for KRW 3,800,000,000, Cognitive Investment Fund 1 for KRW 500,000,000. The bond carries zero coupon rate and yield to maturity is 1%. The bond will mature on February 5, 2021. The subscription and payment date for the bonds are February 5, 2018 respectively. The bonds will be fully convertible into shares at a fixed conversion price of KRW 3,400 per share between February 5, 2019 and January 5, 2021. The transaction was approved by board of directors.
The Asia Business Daily Co., Ltd. is a Korea-based company that engaged in the advertising business. The Company is engaged in the advertising business through online media such as the Internet, mobile platform, TV, radio, landline phones, as well as offline media including newspapers, magazines, and actual activities. The Company's subsidiaries are PAXNet, Inc., Ilgan Leaders Economy News Co Ltd, KMH Insco Co Ltd, and The Asia Golf. Co. Ltd.
The Asia Business Daily Co., Ltd. announced that it expects to receive KRW 20 billion in funding from IBK Securities Co. Ltd., Synergy Asset Management Co., Ltd., HisStory Investment Management and another investor