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KT Music Corporation to Acquire Korea-based Company and to Issue Eighth Convertible Bonds


Thursday, 1 Nov 2012 06:12pm EDT 

KT Music Corporation announced that it will acquire 440,000 shares of a Korea-based company, which mainly engaged in music records business, for KRW 19,998 million, to improve the competitiveness of content market. The transaction will be settled on November 26, 2012. After the transaction, the Company will hold 440,000 shares, or 100% of the Korea-based company. The Company also announced the offering of its eighth unregistered/unsecured private convertible bonds, raising KRW 19,052,112,000. The details regarding the bond issuance are as follows: maturity on November 26, 2015, yield to maturity 3%, zero annual coupon, lump-sum redemption of principle on maturity date, 100% conversion rate of bonds to common shares at KRW 3,050 per share, and subscription period for conversion from November 26, 2013 to November 19, 2015. 

Company Quote

7470.0
430.0 +6.11%
29 Aug 2014