Charm Engineering Co.,Ltd. announced that it expects to receive KRW 9.4 billion in funding from a group of investors
March 27, 2018
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Charm Engineering Co.,Ltd. (KOSE:A009310) announced a private placement of 7th series unsecured unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 9,400,000,000 on March 28, 2018. Inhan Kim will invest KRW 1,000,000,000, Kyudong Kim, Chief Executive Office of the company will invest KRW 1,000,000,000, GVA Asset Management Co., Ltd. will invest KRW 1,500,000,000, Billion Fold Asset Management Co., Ltd. will invest KRW 1,000,000,000, Orion Capital Management will invest KRW1,000,000,000, Artemis Investment Advisory Co. Ltd will invest KRW 1,400,000,000, ValueSystem Investment Management, will invest KRW 1,000,000,000, and HB Financial Co., Ltd. will invest KRW 1,500,000,000. The bond carries no coupon and yield to maturity is 2%. The bonds have been issued at par and will mature on March 30, 2022. The bonds will be fully convertible into 3,944,607 shares at a fixed conversion price of KRW 2,383 per share from March 30, 2019 till February 28, 2022. The transaction has been approved by board of directors of the company. The payment date and subscription date is March 30, 2018.
Charm Engineering Co Ltd is a Korea-based company engaged in the manufacture and sale of repair equipment that repairs defects in the display panel process. The Company operates its business through two segments. The Domestic Business segment is engaged in the manufacture and sale of display panel repair equipment. It is a repair equipment that repairs defects that occur during the manufacturing process of display panels such as liquid crystal displays (LCDs), organic light emitting diodes (OLEDs), quantum dot-organic light emitting diodes (QD-OLEDs) and micro light emitting diodes (LEDs) using precision optics, lasers and ink modules. The Overseas Business segment is engaged in the provision of parts and equipment maintenance services to overseas customers of repair equipment in Mainland China and Vietnam. In addition, the Company is engaged in the operation of saving banks.
CHARM ENGINEERING CO.,LTD. 
