Cayman century wheel Group Co., Ltd. announced that it has received KRW 5,000,000,000 in Series 1 Bearer-owned interest-free private equity convertible bonds on March 9, 2020. The transaction will include participation from new investor Grouse & Value 11 Investment Association. The bond has interest rate of 4%. The bond maturity date is March 30, 2023. The entire bond will be converted into shares at the price of KRW 368 per share. The conversion claim period will be from March 30, 2021 to March 1, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to close on March 30, 2020.