Phoenix Holdings Inc. announced that it expects to receive KRW 2.30 billion in funding.
January 21, 2016
Share
Phoenix Holdings Inc. (KOSE:A037270) announced a private placement of 845,588 registered convertible redeemable preferred shares at KRW 2,720 per share for gross proceeds of KRW 2,299,999,360 on January 22, 2016. Each share has a face value of KRW 500 and will be issued at premium. The transaction will include participation from Ji-Young Kwon for 735,294 shares and Young-Bae Dae for 110,294 shares. The shares issued will be subject to a hold period of one year from the date of issue. The transaction will take place through 3rd party allotment. The payment date for the transaction is January 29, 2016. The transaction has been approved by the board of directors of the company.
On January 28, 2016, the company announced that the redemption duration of the shares will end on January 29, 2021. The redemption value per share will be KRW 3,003 per share. Each preferred share is convertible into registered common share of the company. The shares will now earn a dividend of 1% per annum.
YG PLUS, INC, formerly PHOENIX HOLDINGS INC, is a Korea-based advertising agency. Along with its affiliated companies, the Company operates two categories of businesses: advertisement production business and media agency business. Its advertisement production business creates advertisements for its clients. Its media agency business publishes and broadcasts advertisements through mass media such as televisions (TVs), radios, newspapers, magazines, new media, such as cable TVs and Internet, as well as outdoor billboards, subways, buses and theaters. The Companyâs clients include COCACOLA, SK Telecom, THE FACE SHOP and others.
YG PLUS, INC. 
