Cenit Co. Ltd announced that it expects to receive KRW 5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Shinhan Capital, Investment Arm, IBK Capital Corporation, and another investor.
January 19, 2016
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CENIT CO., LTD. (KOSE:A037760) announced a private placement of seventh unregistered coupon unguaranteed unsecured private convertible bonds for gross proceeds of KRW 5,000,000,000 on January 20, 2016. The bonds will be issued at par. The zero coupon bonds have yield to maturity of 2% per annum and it will mature on January 21, 2021.
The bonds are 100% convertible into common shares of the company at a fixed conversion price of KRW 1,692 per share from January 17, 2017 to December 21, 2020. The bonds will have lump-sum redemption of principal on maturity date for the bonds. The transaction will include participation from new investors, NH Investment & Securities Co., Ltd., Investment Arm for KRW 1,100,000,000, Shinhan Capital, Investment Arm for KRW 1,500,000,000, IBK Capital Corporation for KRW 1,500,000,000, and KO Investment Co., Ltd. for KRW 900,000,000.
The board of directors of the company approved the transaction. The subscription date and the payment date for the transaction is January 21, 2016.
Cenit Co., Ltd., together with its subsidiary, is a Korea-based company engaged in the manufacture of ready-mixed concretes (Remincons) and stainless steel plates. The Company mainly provides stainless steel plates, which are used in machine equipment, power generation equipment, industrial equipment, automobiles, electronics and others. It also engages in the operation of movie theaters. Through its subsidiaries, the Company is engaged in the manufacture and sales of Remincons, and canned kimchi, a kind of Korea pickles. On September 1, 2013, it merged with DaejeonGaoCinema Co.,Ltd., a Korea-based company mainly engaged in the real estate rental and supply business. After that, DaejeonGaoCinema Co.,Ltd. was dissolved.
Cenit Co. Ltd announced that it expects to receive KRW 5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Shinhan Capital, Investment Arm, IBK Capital Corporation, and another investor.
CENIT CO., LTD 
