Osangjaiel Co., Ltd. announced that it has received KRW 2 billion in funding from IBK Capital Corporation.
March 18, 2014 at 04:00 am
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Osangjaiel Co., Ltd. (KOSDAQ:A053980) announced a private placement of 3rd round domestic unregistered coupon unsecured private convertible debenture for gross proceeds of KRW 2,000,000,000 on March 17, 2014. The bonds will bear interest at 0.5% per annum and will mature on March 18, 2017. The bonds will be convertible at the rate of 100% into common shares of the company at a conversion price of KRW 12,816 per share. The conversion period of the bonds will be from March 18, 2015 to February 18, 2017. The transaction involved participation from IBK Financial Group Shared Growth PEF, a fund managed by IBK Capital Corporation. On the same date, the transaction was approved by the board of directors of the company. The subscription and the payment date for the transaction is March 18, 2014.
On March 18, 2014, Osangjaiel Co., Ltd. closed the transaction.
OSANGJAIEL Co., Ltd. is a Korea-based company mainly engaged in the provision of product lifecycle management (PLM) solutions. The Company operates in two segments: information technology (IT) and biochemical technology (BT). Its IT segment specializes in the provision of PLM solutions such as computer aided design (CAD), computer aided manufacturing (CAM) and computer aided engineering (CAE), product data management (PDM), and other engineering consulting services; system integration devices such as servers, storages, networks, workstations and others used for system delivery and installation, and system services such as system construction, programming, consulting and other services. Its BT segment specializes in the provision of fruit packing materials and natural enemies for insect pests.