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​Timon attracts investment of 30.5 billion won Full-scale IPO-Aju Economy

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Tmon announced on the 9th that it has successfully attracted 30.5 billion won worth of equity investment before listing, which has been promoted since the second half of last year, and is now able to take the first step of its full-scale listing plan.

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Investors participated in the capital increase by acquiring Timon’s exchangeable bonds (EB).

The PSA consortium invested 255 billion won in this capital increase, and the existing largest shareholders, Coleberg Kravis Roberts (KKR) and Anchor Equity Partners, also invested an additional 50 billion won.

Thanks to exchangeable bonds that are recognized as capital, Timon is able to significantly improve its financial structure.

With the successful completion of the investment fund, Tmon plans to initiate an IPO in earnest with Mirae Asset Daewoo, the host company.

Lee Jin-won, CEO of Timon said, “We were able to successfully finish attracting investments in recognition of Timon’s competitiveness and future growth potential. It will be an opportunity to clear up capital deficits and make concrete for a successful IPO in the second half.”

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