(Photo = hugel)

 

[Alpha Biz= Reporter Kim Minyoung] Bain Capital, the former largest shareholder of Hugel, a botulinum toxin company, has requested a share conversion of KRW 67.6 billion worth of convertible bonds (CB).

Hugel announced on the 29th that 542,043 shares will be listed next month according to the request. The scheduled listing date is June 13, and the conversion price of convertible bonds is 124,800 won per share, which is 60% of the closing price on the 29th.

The convertible bonds are the second unregistered private equity convertible bonds. It is part of the KRW 100 billion convertible bond issued by Bain Capital to LIDAC, a special purpose company that established the acquisition of Hugel in 2017.

Considering Hugel's total number of shares issued is 12.01 million, the bonds converted this time are about 4.51% of the total and the remaining number of convertible shares is about 250,000.

 

 

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