FNC ENTERTAINMENT Co., Ltd. announced that it expects to receive KRW 15 billion in funding
March 07, 2019
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FNC ENTERTAINMENT Co., Ltd. (KOSDAQ:A173940) ) announced a private placement of 1st series Unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on March 8, 2019. The transaction will include participation from KDBC-TR New Technology Fund 2. The bonds are issued at zero interest rate, 2.5% yield to maturity and will mature on March 12, 2024. The bonds can be 100% converted into 1,468,285 common shares for 9.27% stake of the company at a fixed conversion price of KRW 10,216 per share. The conversion period is from March 12, 2020 to February 12, 2024. The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 12, 2019.
FNC ENTERTAINMENT Co., Ltd. is a Korea-based company principally engaged in the entertainment business. The Company operates its business through five divisions: concert division, merchandising division, music division, management division and other business division. Its concert division engages in the planning, production and operation of concerts. Its merchandising division engages in the distribution of souvenirs and accessories about artists. Its music division involves in the planning, production and distribution of phonograph records and provision of sound sources. Its management division involves in the broadcasting, and provision of dramas and advertising services. Its other business division involves in the operation of fan clubs.
FNC ENTERTAINMENT CO., LTD. 
