Myungjin Holdings. Corp. (XKON:A267060) announced a private placement of series 2 unregistered private convertible bonds for gross proceeds of KRW 500,003,000 on October 8, 2018. The transaction will include participation from returning investor NH Investment & Securities Co., Ltd., Investment Arm. The bonds are issued at par, carry no coupon, and have no yield to maturity. The bonds matures on October 10, 2020. The bonds are fully convertible into 142,858 shares at a fixed conversion price of KRW 3,500 per share representing 1.82% stake in the company. The conversion period will start from October 9, 2019 and end on November 8, 2019. The subscription and payment date is October 8, 2018. The transaction has been approved by the board of directors of the company.