SAMSUNG PHARM. Co., LTD. announced that it has received KRW 1.5 billion in funding from J & J Investment Co Ltd and other investor
May 18, 2017
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SAMSUNG PHARM. Co., LTD. (KOSE:A001360) announced a private placement of series 30th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 1,500,000,000 on May 19, 2017. The transaction includes participation from Sein Coms Co., Ltd for KRW 500,000,000, J&J Investment Co, Ltd. for KRW 300,000,000, Sangyoung Lee for KRW 400,000,000 and Sungjun Kim for KRW 300,000,000.The bonds do not have an interest rate. The bonds have a yield to maturity at 3% per annum. The bonds are issued at par and have a maturity date on May 19, 2020. The bonds are 100% convertible into 406,724 common shares at a price of KRW 3,688 per share. The conversion period is from May 19, 2018 to April 19, 2020. The subscription and payment date is May 19, 2017. The bonds issued cannot be converted till one year from the date of issuance. The transaction has been approved by the board of directors of the company.
SAMSUNG PHARM. Co., LTD., formerly SAMSUNG PHARMACEUTICAL.CO.,Ltd., is a Korea-based company principally engaged in the manufacture and sale of pharmaceuticals. The Company operates its business through two segments. The Pharmaceutical and Quasi-drug Sale Business segment manufactures and sells prescription medicines, general pharmaceuticals and quasi-medicines. This segment's products include anticancer immunotherapy agents, antipyretic analgestic and anti-inflammatory agents, hypotensive agents, antiarteriosclerotic agents, anti-spastics, enzyme agents, ostepoposis agents, antibiotics, medicines for digestive system, medicines for liver disorder, medicines for circulation system and vitamin supplements, among others. The Health Food Manufacturing and Sale segment manufactures and sells nutrition and invigoration products.