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[Alpha Biz=(Chicago) Reporter Kim Jisun] Cosmax chose to increase its capital by issuing new stocks to return the investment of Chinese holding company CosmaxEast.
With the capital increase through the issuance of redeemable convertible preferred shares (RCPS) with interest costs and dividends, the provision of funds is interpreted as a decision that endured cost bleeding to extinguish the urgent fire.
According to the industry on the 18th, CosmaxEast has recently issued redeemable convertible preferred shares with a third-party paid-in capital increase. The capital increase is 114.3 billion won, the number of shares is 3,811,778 shares, and the issuance price is 29,986 won. The investor is a joint venture of KDB Hana Business Reorganization Value Business Samo Investment.
This paid-in capital increase is aimed at raising the paid-in capital for the 9.74% stake owned by some shareholders of CosmaxEast (SV Investment).
CosmaxEast has attracted 82.8 billion won in investment from SV Investment in 2019. As of the end of last year, Cosmax East's stake was composed of Cosmax (87.71%), SV Investment (9.74%) and others (2.55%).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
