Dgenx Co., Ltd. announced that it expects to receive KRW 5 billion in funding from Synergy Partners Co., Ltd., IBK Capital Corporation, Korea Securities Finance Corporation, Investment Arm
November 31, 2016
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Dgenx Co., Ltd. (KOSDAQ:A113810) announced a private placement of 5th unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000, and 6th unregistered coupon unguaranteed private bonds with warrants for gross proceeds of KRW 2,000,000,000, for aggregate proceeds of KRW 5,000,000,000 on November 1, 2016. The transaction will involve participation from new investors Synergy Partners Co., Ltd, Korea Securities Finance Corporation, Investment Arm, and IBK Financial Group Future Growth Engine Investment Fund, a fund managed by IBK Capital Corporation. The investors will invest amounts of KRW 3,000,000,000, KRW 1000,000,000, and KRW 1,000,000,000 respectively. The zero coupon bonds will bear a yield to maturity of 1.5% per annum. The bonds are convertible into common shares of the company at a fixed conversion price of KRW 1,920 per share between November 3, 2017 and October 3, 2021. The bonds will mature on November 3, 2021. The transaction has been approved by the the board of the company. The payment is expected to be November 3, 2016.
Dgenx Co., Ltd. is a Korea-based company mainly engaged in the manufacturing and sale of automobile parts. The principal activity of the Company is development and production of automobile exhaust systems including mufflers, exhaust manifolds, catalytic converters and bellows tubes used in the automobile engines. The Company distributes its products within domestic market and to overseas markets.
Dgenx Co., Ltd. announced that it expects to receive KRW 5 billion in funding from Synergy Partners Co., Ltd., IBK Capital Corporation, Korea Securities Finance Corporation, Investment Arm