Enk Co., Ltd. announced that it expects to receive KRW 10 billion in funding from NK Co., Ltd.
November 14, 2021
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Enk Co., Ltd. announced that it will issue series 6 bearer type private placement convertible bonds for gross proceeds of KRW 10,000,000,000 on November 15, 2021. The transaction will include participation from returning investor NK Co., Ltd. The bonds will be issued at par, will carry fixed interest rate of 2.5%, yield to maturity rate of 5%, will mature on November 18, 2028, and are fully convertible into common shares of the company at a fixed conversion price of KRW 5,000 per share from November 19, 2022 to November 18, 2028. The transaction has been approved by the board of directors of the company, and is expected to close on November 18, 2021.
NK CO., LTD. is a Korean company principally engaged in the manufacture and provision of fire extinguishing systems and high pressure gas cylinders. The Company operates its businesses through fire extinguishing system division, which provides carbon dioxide (CO2) systems for car carriers and engine rooms, loose fire fighting systems used as portable fire extinguishers for small scale fire, foam systems, dry powder systems and others; high pressure gas cylinder division, which provides industrial high pressure gas cylinders, compressed natural gas (CNG) fuel cylinders and industrial special gas cylinders, among others; ballast water treatment division, which provides ballast water treatment facilities, including ozone systems, filtration and electrolysis systems and others, and plant division, which mainly provides plant engineering services and relevant facilities. On December 18, 2013, the Company sold its entire shares of ENK CO., LTD.
NK CO., LTD. 
