Nepes Corporation announced that it expects to receive KRW 15 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm
December 18, 2016
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Nepes Corporation (KOSDAQ:A033640) announced a private placement of 1st unregistered coupon unguaranteed non-detachable bonds for gross proceeds of KRW 15,000,000,000 on December 19, 2016. The transaction will include participation from new investors, Samsung Securities Co. Ltd. for KRW 6,000,000,000, NH Investment & Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, NH Investment & Securities Co., Ltd. for KRW 500,000,000, Mirae Asset Daewoo Co., Ltd. for KRW 500,000,000, Samsung Securities Co. Ltd. for KRW 4,000,000,000, and Shinhan Investment Corp., Investment Arm for KRW 3,000,000,000. The bonds do not bear any interest and would mature on December 20, 2021. The company will also issue warrants in the transaction and they will be exercised into common shares at an exercise price of 7,844 between the period of December 20, 2017 to November 20, 2021. The subscription and the payment date of the transaction is December 20, 2016. The transaction has been approved by the board of directors of the company.
NEPES Corporation is a Korea-based company mainly engaged in the manufacture and distribution of semiconductors and electronic materials. The Company operates its business through two main divisions: semiconductor division and electronic materials division. Its semiconductor division engages in the manufacture of semiconductor products, such as driver integrated circuit (IC) bumping and packages, which are used in flat panel displays (FPDs). Its electronic materials division mainly provides developers, color filter developers, etchants, nano strippers, cleaners and slurries, among others, which are used in manufacturing process of semiconductors and liquid crystal displays (LCDs). The Company distributes its products within domestic market and to overseas markets.
Nepes Corporation announced that it expects to receive KRW 15 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm