CNPLUS Co., Ltd. announced that it expects to receive KRW 1.5 billion in funding from INS LED Co., Ltd.
October 28, 2021
Share
CNPLUS Co., Ltd. announced a private placement of series 6 unregistered coupon nonguaranteed private perpetual convertible bonds for a gross proceeds of KRW 1,500,000,000 on October 29, 2021. The transaction will include participation from INS LED Co., Ltd. The bonds will mature on October 31, 2051. The bonds will be 100% converted into 6,976,744 common shares at a fixed conversion price of KRW 215 per share for an equity stake of 10.26%. The conversion period is from November 1, 2022 to October 1, 2051. The payment date of the transaction is November 1, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
