Daedong Metals Co., Ltd. announced that it expects to receive KRW 7.5 billion in funding from Korea Investment & Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, Susung Asset Management Co., Ltd.
July 11, 2018
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Daedong Metals Co., Ltd. (KOSDAQ:A020400) announced a private placement of 1st series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 7,500,000 on July 12, 2018. The bonds will issue at par value. The transaction will include participation from Korea Investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Shinhan Investment Corp., Investment Arm for KRW 1,500,000,000, and Susung Asset Management Co., Ltd. for KRW 2,000,000,000. The maturity date of bonds is July 18, 2021. The bonds carry coupon rate of 0% and yield to maturity of 0%. The bonds are 100% convertible into 142,406 common shares at a price of KRW 52,666 per share. The conversion period start date is July 18, 2019 and end date is June 18, 2021. The transaction has been approved by the company’s board of directors. The transaction is expected to close on July 18, 2018 and subscription date is July 16, 2018.
DAEDONG METALS Co. Ltd is a Korea-based company principally engaged in the manufacture and sale of casting machine parts. The Company manufactures cylinder heads, cylinder blocks, transmission cases, crankcases, clutch housings, oil coolers, oil cooler covers and others, which are used in commercial cars, small-sized cars, agricultural machines and industrial equipment. The Company sells its products within domestic market and to overseas markets.
Daedong Metals Co., Ltd. announced that it expects to receive KRW 7.5 billion in funding from Korea Investment & Securities Co., Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, Susung Asset Management Co., Ltd.
DAEDONG METALS CO., LTD. 
