LUKEN Technologies Co., Ltd. announced that it expects to receive KRW 4.9999955 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd.
June 18, 2018
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LUKEN Technologies Co., Ltd. (XKON:A162120) announced a private placement of 4th round unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 2,000,000,000 on June 19, 2018. The transaction will include participation from Susung Asset Management Co., Ltd. The bonds will be issued at par and carry a coupon of 2%. The bonds have yield to maturity of 3% and would mature on June 27, 2023. The bonds will be fully convertible into 210,526 shares of the company at a fixed conversion price of KRW 9,500 per share between the period of June 27, 2019 to May 27, 2023. The subscription date is June 19, 2018, and the payment date is June 27, 2018. The transaction has been approved by the board of directors of the company.
On the same date, the company announced a private placement of 315,789 redeemable convertible preferred shares at a price of KRW 9,500 per share for gross proceeds of KRW 2,999,995,500. The transaction will involve participation from Soosung Lift Mfg.Co., Ltd. asset management corporation. The shares will be issued by a way of third party allotment. The redemption period for the shares starts and ends on June 27, 2020 and June 27, 2028 respectively. The conversion period for the shares starts and ends on June 28, 2018 and June 26, 2028 respectively. The securities will be issued at a premium. The transaction is expected to close on June 27, 2018. The transaction has been approved by the board of directors of the company.
LUKEN TECHNOLOGIES CO., LTD. is a Korea-based company principally engaged in the manufacture and distribution of semiconductor and display equipment. The Companyâs products include liquid crystal display (LCD) checker, printed circuit board (PCB) vision checker, semiconductor Checker, light emitting diode (LED) checker, scriber, organic light emitting diode (OLED) aging equipment, array tester and semiconductor units. The Company distributes its products within domestic market and to overseas markets.