PangSky Corp. announced that it expects to receive KRW 500 million in funding from Kiwoom Securities Co., Ltd.
February 04, 2024
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PangSky Corp. announced a private placement of round 6 bearer interest unsecured private placement convertible bonds for a gross proceeds of KRW 500,000,000 on February 5, 2024. The transaction will include participation from new investor Kiwoom Securities.
The bonds have a surface interest rate of 2% and maturity rate of 8%. The bonds will mature on February 8, 2029. The bonds will be 100% converted into 166,666 common shares at a fixed conversion price of KRW 3,000 per share from February 8, 2025 to January 8, 2029.
The transaction has been approved by the board of directors of the company.
Kiwoom Securities Co Ltd is a Korea-based company engaged in the provision of financial services. The Company operates its business through four segments. The Wholesale General segment is engaged in corporate sales that provide stock and derivatives trading services and market information, and bond sales that provide bond brokerage. The Investment Bank (IB) Business Headquarters segment engages in businesses including issuing and arranging corporate bonds, real estate project financing (PF), alternative investment, in addition to initial public offering (IPO). The Investment Management segment is engaged in mezzanine investment, private equity, futures and options trading, arbitrage trading, and brokers over the counter (OTC) derivatives such as equity linked security (ELS) and equity linked warrant (ELW). The Retail Headquarters segment is engaged in businesses such as domestic securities brokerage services, online fund services, and overseas stock services.
KIWOOM SECURITIES CO., LTD. 
