ADBiotech Co., Ltd. announced that it expects to receive KRW 1 billion in funding
June 29, 2020
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ADBiotech Co., Ltd. (XKON:A179530) announced a private placement to issue 4th series named non-guaranteed private equity bonds for KRW 1,000,000,000 on June 30, 2020. The transaction will include participation from new investor IDV-IP Fisheries Professional Fund No. 2. The bonds bears an interest of 3% per annum and will mature on July 09, 2025. The bonds are 100% convertible into 56,179 common shares of the company representing 2.42% stake at the conversion price of KRW 17,800 per share. The conversion period will start from July 10, 2021 and ends on July 08, 2025. The subscription date for bonds is June 30, 2020 and payment date is July 09, 2020. The transaction has been approved by the board of directors of the company.
ADBiotech Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of veterinary drugs. The Company operates its business through two segments. Veterinary Medicine segment is engaged in the manufacture and sale of antibiotics, anticoccidial agents, antimicrobial agents, nervous system agents, synthetic antibacterial agents and others. The Supplementary Feed segment is engaged in the manufacture and sale of functional supplementary feeds and other products.
ADBIOTECH CO., LTD. 
