Nokwon Commercials & Industries, Inc. announced a private placement of series 23 Unregistered coupon unguaranteed private convertible bond for gross proceeds of KRW 3,000,000,000 on May 17, 2022. The bond bears a coupon rate of 3%. The bonds are 100% convertible at a conversion price of KRW 2,000 into 1,500,000 shares from May 18, 2023 to April 18, 2052.

The payment date is May 18, 2022. The bonds will mature on May 18, 2052. The transaction will include participation from new investor lsung Electronics Co., Ltd. The transaction has been approved by the board of directors of the company.