Woori Technology, Inc. announced that it expects to receive KRW 14.5 billion in funding from Eugene investment & Securities Co., Ltd., Investment Arm, eBest Investment Securities Co., Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm and other investors
August 07, 2018
Share
Woori Technology, Inc. (KOSDAQ:A032820) announced a private placement of series 7th domestic unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 14,500,000,000 on August 8, 2018. The bonds will be issued at par value. The transaction will include participation from new investors Eugene investment & Securities Co., Ltd., Investment Arm for KRW 6,000,000,000, eBest Investment Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 1,000,000,000, Platform Partners Smart Venture Hedge Fund 1 for KRW 2,000,000,000, and other investors. The bonds are fully convertible into 8,381,502 common shares for 8.94% stake in the company at a fixed conversion price of KRW 1,730 per share. The bonds will mature on August 10, 2022. The yield to maturity and annual fixed coupon rate for the bonds is 5% and 3% respectively. The conversion period of bonds is from August 10, 2019 to July 10, 2022. The subscription date and the payment date is on August 10, 2018. The board of directors of the company approved the transaction.
Woori Technology Inc. is a Korea-based company engaged in the design and manufacture of nuclear instrumentation and control systems. The Company operates in two business divisions: system division, which designs and produces nuclear control systems, such as plant monitoring systems (PMSs), plant annunciator systems (PASs), seismic monitoring systems (SMSs), loose part monitoring systems (LPMSs) and distributed control systems (DCSs), used in nuclear power plants, as well as new business division, which involves in the trading of multi personal computer (PC) system and mineral resources such as anthracite coals, steam coals and others, as well as provision of childâs crying reason analysis systems. It also involves in the leasing of non-residential buildings.
Woori Technology, Inc. announced that it expects to receive KRW 14.5 billion in funding from Eugene investment & Securities Co., Ltd., Investment Arm, eBest Investment Securities Co., Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm and other investors