Curo Co.,Ltd. announced that it expects to receive KRW 1.2 billion in funding from Asam Asset Management Co., Ltd.
January 15, 2018
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Daekyung Machinery & Engineering Co., Ltd. (KOSE:A015590) announced a private placement of 7th series unregistered, unsecured convertible bonds for gross proceeds of KRW 1,200,000,000 on January 16, 2018. The transaction will involve participation from new investors ASAM Asset Management co., Ltd., individual investors Hyesook Jang, and Taeae lee for KRW 500,000,000, KRW 200,000,000, and KRW 500,000,000 respectively. The bonds will mature on January 18, 2021. The bonds will have a yield to maturity of 3%. The bonds will be 100% convertible in 1,581,027 shares at a conversion price of KRW 759 per share from January 18, 2019 to December 18, 2020. The expected payment date of the transaction is January 18, 2018. The transaction was approved by the board of directors of the company.
KIB Plug Energy Co Ltd, formerly Curo Co Ltd is a Korea-based company mainly engaged in the manufacture of chemical equipment. The Chemical Equipment segment is principally engaged in the provision of heat exchangers, pressure vessels. In addition, the Company is engaged in the provision of tower. The Company's chemical equipment is mainly used for fluid cooling and heating, raw material mixers, classification and extraction, among others. The Company sells its products in domestic and overseas markets.