NH NongHyup Financial decides on a capital increase for NH Investment & Securities 4,000hundred million won
NH NongHyup Financial decided to carry out a paid-in capital increase for NH Investment & Securities totaling 4,000hundred million won through a 3allotment method. On the same day, news also emerged that Bain Capital had entered the race to acquire Nexflex and that BlueCove and CPPIB were making a hotel investment worth 5,000hundred million won.
NH NongHyup Financial disclosed that it had decided on a paid-in capital increase for NH Investment & Securities worth 6 month 2 day, totaling 4,000hundred million won. The capital increase method is a 3allotment. The company cited strengthening its IMA competitiveness and bolstering its corporate finance capabilities as the reasons.
NH Investment & Securities said the capital increase would lay the foundation for expanding shareholder value. It said the specific new-share allocation ratio and issuance schedule would be announced in a separate disclosure. The related procedures will proceed in accordance with future disclosures.
In domestic trends involving foreign private equity funds, Bain Capital decided to participate in the race to acquire Nexflex, a smartphone substrate materials company. Nexflex counts Samsung Electronics and Apple among its customers. The acquisition terms and price can be confirmed through additional disclosures.
In the real estate sector, BlueCove established a joint venture with Canadian pension fund CPPIB to invest in hotels in South Korea. The joint venture’s investment scale is around 5,000hundred million won. The investment targets are reportedly two properties in major tourist destinations in Seoul.
All three announcements were issued on 6month 2day. Each company is carrying out the relevant disclosures and procedures separately. Investors and market participants should confirm the detailed terms through future disclosures.
These announcements and disclosures concern matters affecting the finances and transaction structures of companies related to NH Investment & Securities, Nexplex, and BlueCove. Specific figures and schedules will be finalized as each company issues subsequent disclosures. All disclosures were announced directly by the companies.