Bosung Power Technology Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Moorim Capital Co., Ltd., Investment Arm, NH Investment & Securities Co., Ltd., Investment Arm
July 12, 2018
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Bosung Power Technology Co. Ltd. (KOSDAQ:A006910) announced a private placement of 13th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on July 13, 2018. The transaction will include participation from new investors, Rhinos KOSDAQ Venture Mezzanine Hedge Fund 1 for KRW 2,500,000,000; Rhinos K Bio Mezzanine Private Hedge Fund for KRW 1,500,000,000; Rhinos KOSDAQ Venture Public Stock Hedge Fund 1 for KRW 2,000,000,000; Rhinos Mezzanine Hedge Fund 4 for KRW 1,000,000,000; Matter under notice fund from trust dealers concerned position of Fund 1 for KRW 3,000,000,000; Moorim Capital Co., Ltd., Investment Arm for KRW 2,000,000,000; NH Investment & Securities Co., Ltd., Investment Arm for KRW 2,000,000,000 and Hanyang Securities Co. Ltd., Investment Arm for KRW 1,000,000,000. The bonds will be issued at par. The bonds will mature on August 17, 2023. The bonds will have nil annual coupon and yield to maturity. The bonds are 100% convertible into 4,587,155 common shares at a price of KRW 3,270 per share. The conversion period will be from July 17, 2019 to June 17, 2023. The payment and subscription date is July 17, 2018. The transaction was approved by the board of directors of the company. The holder has the advanced redemption claim right from 2 years from the date of issuance. The company has the sale to claim option right from 12 months from the date of issuance. The bond is subject to hold period of 1 year.
Bosung Power Technology Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of electrical equipment. The Company mainly operates power supply business, which provides gas switches, reactors, polymer arresters, wire fuses and others; steel structure business, which provides steel tubular poles, steel towers for transmission lines, steel frames for power generation plants and others, and other businesses. In addition, the Company provides clamp covers, cut out switches, supporting structures and others. The Company supplies its products within domestic market and to overseas markets.
Bosung Power Technology Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Hanyang Securities Co. Ltd., Investment Arm, Moorim Capital Co., Ltd., Investment Arm, NH Investment & Securities Co., Ltd., Investment Arm