Bowon Chemical, a total solution company for chemical materials, announced on the 23rd that it had submitted a securities report to the Financial Services Commission on the 22nd for a merger listing with BNK 2nd SPAC and had begun the process of listing on KOSDAQ in earnest.
On the 15th, Bowon Chemical passed the preliminary listing review by the Korea Exchange for its merger with BNK No. 2 SPAC. The merger price per share for Bowon Chemical and BNK No. 2 SPAC is 5,771 won and 2,000 won, respectively, with a merger ratio of 1 to 0.3465603. The total number of shares issued after the merger is expected to be 11,143,710. The shareholders' meeting to approve the merger will be held on February 9th of next year, and the merger deadline is March 16th. The company aims to list on the KOSDAQ market in April.
Founded in 1995, Bowon Chemical manufactures and supplies products in roll, sheet, and tile forms, using plastic raw materials such as polyvinyl chloride, thermoplastic polyolefin, and polyurethane, through surface treatment and plywood processing. Key applications include surface materials for automotive interiors, building materials, non-slip pads for display manufacturing, and EVA sheets for solar power.
In the automotive interior surface materials division, we supply materials for instrument panels, door trims, and sun visors. We design and manufacture products that incorporate light resistance, weather resistance, contamination resistance, and airbag deployment characteristics. In the building materials division, we produce SPC flooring and wall coverings, while in the high-performance sheet materials division, we produce non-slip pads for display processes, EVA sheets for solar power, and surface-treated printed backsheets.
Bowon Chemical has established a production infrastructure encompassing the entire process, from raw material processing to film production, printing and surface treatment, plywood, and precision cutting. It is strengthening its manufacturing competitiveness by leveraging gravure and microgravure printing equipment, large-area repeat printing equipment, plywood and flooring molding processes, and electron beam crosslinking equipment.
Heo Chan-hoe, CEO of Bowon Chemical, stated that through the merger and listing, the company will advance its research and development and production systems, strengthen its product competitiveness centered on high-performance chemical materials, and establish a foundation for mid- to long-term growth.
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