Daeho P&C Co.,Ltd announced that it expects to receive KRW 24.99999861 billion in funding
March 25, 2018
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Daeho P&C Co.,Ltd (KOSDAQ:A021040) announced a private placement of round 3 unregistered unguaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on March 26, 2018. The transaction will involve participation from new investor KCN Investment Co, Ltd. The bonds will be issued at zero coupon rate and will have a yield to maturity of 2.5%. The bonds will mature on May 31, 2021. The bonds will be fully convertible into 14,124,293 shares at a fixed conversion price of KRW 1,770 per share between May 31, 2019 and April 30, 2021. The subscription and payment date for the bonds is The subscription and payment date for the bonds is March 26, 2018 and May 31, 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 
