BIOVILL Co.,Ltd. announced that it has received KRW 1 billion in funding
July 17, 2018
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BIOVILL Co.,Ltd. (KOSDAQ:A065940) announced a private placement of series 17 unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 1,000,000,000 on July 18, 2018. The transaction involved participation from new individual investors Jihoon Kim, Sung Won Choi, Jungsin Kim, Yurang Seo, Myungsa Ja, and Daeseung Choi for KRW 100,000,000, KRW 50,000,000, KRW 100,000,000, KRW 100,000,000, KRW 250,000,000, and KRW 400,000,000 respectively. The bonds will have a yield to maturity and coupon rate of 4% each. The bonds will be fully convertible into 345,661 shares at a conversion price of KRW 2,893 from July 18, 2019 to June 18, 2021. The bonds will mature on July 18, 2021. The subscription date of the transaction is July 18, 2018. The transaction was approved by the board of directors of the company.
BIOVILL Co.,Ltd., formerly KSCB Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of pigment preparations used in plastic processing industry. The Company provides four categories of products: plastic coloring agents, plastic printing inks, synthetic leather surface coating agents and polyvinyl chloride (PVC) compounds. Its products are used in construction, automobile, advertising, electronic and other industries. In addition, it also involves in the provision of pigments and solvents. Through its subsidiaries, the Company is also engaged in the stem cell business.