Chokwang Paint Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm, CAPE Investment & Securities Co.,Ltd., Investment Arm, GVA Asset Management Co., Ltd., Korea Investment Private Equity
January 17, 2022
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Chokwang Paint Co., Ltd. announced that it will issue series 2 Unregistered noncoupon nonguaranteed private placement convertible bonds for gross proceeds of KRW 10,000,000,000 on January 18, 2022. The transaction will include participation from Shinhan Investment Corp., Investment Arm for KRW 2,000,000,000, KB Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, CAPE Investment & Securities Co.,Ltd., Investment Arm for KRW 1,500,000,000, GVA Asset Management Co., Ltd. for KRW 2,000,000,000 and IBKC-EQP Innovative Technology Fund, a fund managed by Korea Investment Private Equity for KRW 1,500,000,000. The bonds will carry no interest rate and will mature on January 26, 2027. The bonds are 100% convertible into 972,857 shares at a conversion price of KRW 10,279. The bonds will start conversion from January 26, 2023 and will end on December 26, 2026. The transaction is expected to close on January 26, 2022.
On April 25, 2022, the company announced that it will now convert 1,143,772 shares at a conversion price of KRW 8,743.
On July 25, 2022, the company announced that it will now convert 1,216,101 shares at a conversion price of KRW 8,223.
Chokwang Paint Ltd. is a Korea-based company engaged in the manufacture and marketing of paint products. The Companyâs products consist of architectural paints, including roof and state paints, floor paints, wood and steel paints, eco-friendly paints, as well as paints for exterior walls, interior walls, ceilings and others; industrial paints, including heat-dry paints, natural-dry paints, fluorine paints, water-based paints, special patterning paints and others; carpentry paints, including, spray paints, water-soluble paints and other functional paints, and ultra violet and electron beam (UV/EB) paints, powdered paints, plastic paints and auto body repairing paints, as well as glues and adhesives.
CHOKWANG PAINT LTD. 