Daedong Korea Ginseng Co.,Ltd. announced that it expects to receive KRW 2.5 billion in funding
June 27, 2016
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Daedong Korea Ginseng Co.,Ltd. announced a private placement of series 2 registered unguaranteed private convertible bonds for gross proceeds of KRW 2,500,000,000 on June 28, 2016. The transaction will include participation from Eco-MGI Industry Specialty Fund 6 for KRW 1,500,000,000, Sungjin Ko for KRW 150,000,000 and returning investors Kyunghoon Kim, Inseung Jung, Sungyup Yoo, Kichang Ji for KRW 275,000,000, KRW 275,000,000, KRW 150,000,000, KRW 150,000,000, respectively. The bonds will be issued at its par value. The bonds will carry fixed interest of 1% per annum and a yield to maturity of 6%. The bonds will mature on June 29, 2020. The bonds will be fully convertible into registered common shares at KRW 10,500 per share. The conversion period will be from June 29, 2017 to May 29, 2020. The subscription date and the payment date for the bonds are expected on June 30, 2016. The transaction was approved by the board of directors of the company.
DAEDONG KOREA GINSENG CO.,LTD is a Korea-based company mainly engaged in the production and sale of red ginseng products. The main products include red ginseng concentrate, red ginsengs, red ginseng powder, dried processed ginsengs. The main products are sold under the name of Duham. In addition, the Company is involved in the production and sale of pouch products, red ginseng tea, red ginseng candies, beauty products, red ginseng capsules, as well as red ginseng capsule premium, red ginseng concentrate under the name of SAPONIE X. Beauty products include red ginseng soaps and red ginseng liquid soap. The Company distributes its products within the domestic market and to overseas markets, including Asia, America, and Europe.
DAEDONG KOREA GINSENG CO., LTD. 
