Kookmin Bank Swaps Debt for Equity in KP Chemical(Jun.15, 2002)
2002-06-16On June 12, 2002, Kookmin Bank swapped debt for equity to purchase the common shares of KP Chemical (the “Company”) in the amount of 36.5 billion Won, as agreed by the creditors of the Company on October 25, 2001 and on May 20, 2002.
1. Information on the Company
• Company name: KP Chemical
• Paid-in capital: 491.6 billion Won
• Issued and outstanding shares: 98,337,782 shares
• Major business: Petrochemical
2. Details of Kookmin Bank’s investment
• Amount of investment: 36.5 billion Won
• Number of shares owned after this investment: 7,481,235 shares
• Kookmin Bank’s stake in the company: 7.61 %
This will bring Kookmin Bank’s total investment in equities for this fiscal year, excluding investments in subsidiaries, to 375.5 billion Won, which is equal to 25.06% of our previous year end’s paid in capital.