BrainContents Issues 10 Billion Won Convertible Bonds to Strengthen Non-Face-to-Face Business
Subsidiaries' Cash Assets Exceed 140 Billion Won... Pursuing Mergers and Acquisitions
[Asia Economy Reporter Hyungsoo Park] Brain Contents is raising 10 billion KRW in funds to embark on full-scale mergers and acquisitions (M&A).
Brain Contents announced on the 30th that it successfully issued convertible bonds (CB) worth 10 billion KRW.
With the completion of the convertible bond fund payment, Brain Contents' cash assets combined with all its affiliates have exceeded 140 billion KRW. Based on abundant cash assets, the company plans to use the investment funds to strengthen its non-face-to-face (untact) business.
Jongwook Moon, CEO of Brain Contents, explained, "Despite the difficult market environment due to the impact of the novel coronavirus disease (COVID-19), we successfully raised funds by being recognized for financial stability and growth potential."
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He added, "We will accelerate mergers and acquisitions of untact business companies that will maximize corporate value in preparation for the post-COVID era, and we will do our best to achieve meaningful results."
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