Daeho Special Steel Co., Ltd. announced that it expects to receive KRW 11 billion in funding from Shinhan Financial Investment Co., Ltd., Investment Arm, Hanyang Securities Co., Ltd., Investment Arm, and other investors
July 27, 2021
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Daeho Special Steel Co., Ltd. announced private placement of series 5 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 11,000,000,000 on July 28, 2021. The transaction will include participation from Shinhan Financial Investment Co., Ltd., Investment Arm for KRW 2,000,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, funds advised by KB Securities Co., Ltd., Mirae Asset Securities Co., Ltd., NH Investment & Securities Co., Ltd., Samsung Securities Co., Ltd., Korea Investment & Securities Co., Ltd., and Shinhan Financial Investment Co., Ltd. for KRW 8,000,000,000. The bonds bear no coupon and maturity rate of 2%. The bonds will mature on July 30, 2024. The bonds are convertible into 11,122,345 shares at a fixed conversion price of KRW 989 per share from July 30, 2022 to June 30, 2024. The expected payment date is July 30, 2021.
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.
Daeho Special Steel Co., Ltd. announced that it expects to receive KRW 11 billion in funding from Shinhan Financial Investment Co., Ltd., Investment Arm, Hanyang Securities Co., Ltd., Investment Arm, and other investors