Daeho P&C Co.,Ltd announced that it expects to receive KRW 15 billion in funding from IBK Capital Corporation
August 13, 2018
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Daeho P&C Co.,Ltd (KOSDAQ:A021040) announced a private placement of 3rd series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on August 14, 2018. The transaction will involve participation from new investor Ibkc-Tongyang Growth 2013 Private Equity Fund, a fund managed by IBK Capital Corporation. The bonds will be issued at a coupon rate of 0% and will have a yield to maturity of 1.5%. The bonds are issued at par. The bonds will mature on August 16, 2022. The bonds will be fully convertible into 12,000,000 shares at a fixed conversion price of KRW 1,250 per share between August 17, 2019 and August 15, 2022. The subscription and payment date for the bonds is August 14, 2018 and August 17, 2018 respectively. The transaction has been approved by the board of directors of the company.
DHSteel, formerly Daeho P&C Co Ltd, is a Korea-based company mainly engaged in the manufacturing and distribution of steel wires. The Company operates its business through two segments. The Wire Rod segment manufactures and sells cold heading quality (CHQ) wires, which are material for steel parts such as bolts, nuts, bearing balls and screws, used for automobile parts, general industrial machinery parts, and electronic parts. The Cold Drawn (CD) Bar segment produces and sells bars used as shafts for automobile parts and general industrial machinery parts. In addition, the Company manufactures and sells stainless wire, which is a steel material such as wire, spring and rope. The Company distributes its products within domestic market and to overseas markets.
DHSTEEL 
