NK Co., Ltd. announced that it expects to receive KRW 17 billion in funding from Shinhan Investment Corp., KB Securities Co.,Ltd, Korea Securities Finance Corporation, Investment Arm, Korea Investment & Securities Co., Ltd., Choeun Mutual Savings Bank, and other investors
May 30, 2018
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NK Co., Ltd. (KOSE:A085310) announced a private placement of 8th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 17,000,000,000 on May 31, 2018. The bonds are issued at par. The bonds will carry yield to maturity of 3% and a fixed coupon rate of 1% per annum. The bonds will mature on June 4, 2021. The bonds will be convertible into common shares at a fixed conversion price of KRW 2,072 per share at 100% conversion rate. The conversion period will start from June 4, 2019 and end on May 4, 2021. The subscription and payment date is September June 4, 2018. The transaction has been approved by the board of directors of the company. The transaction will include participation from new investors Shinhan Investment Corp. for proceeds of KRW 1,000,000,000, KB Securities Co.,Ltd for proceeds of KRW 4,500,000,000, Korea Securities Finance Corporation, Investment Arm for proceeds of KRW 1,500,000,000 , Korea Investment & Securities Co., Ltd. for proceeds of KRW 3,000,000,000, Choeun Mutual Savings Bank for proceeds of KRW 3,000,000,000, Inzen Partners Co., Ltd. for proceeds of KRW 1,500,000,000, Obit Partners Corporation for proceeds of KRW 1,000,000,000, and individual investors Jeongtaek Park for proceeds of KRW 500,000,000, Heewon Km for proceeds of KRW 500,000,000, Seunghwan Han for proceeds of KRW 400,000,000, and Jongjun Baek for proceeds of KRW 100,000,000.
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. announced that it expects to receive KRW 17 billion in funding from Shinhan Investment Corp., KB Securities Co.,Ltd, Korea Securities Finance Corporation, Investment Arm, Korea Investment & Securities Co., Ltd., Choeun Mutual Savings Bank, and other investors