NK Co., Ltd. announced that it expects to receive KRW 20 billion in funding.
July 30, 2012 at 12:00 am EDT
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NK Co., Ltd. (KOSE:A085310) announced a private placement of series 5 unregistered/unsecured bonds for gross proceeds of KRW 20,000,000,000 on July 30, 2012. The bonds do not carry a coupon rate and mature on August 3, 2017. The bonds have a yield to maturity of 3%. The company will also issue warrants exercisable at KRW 3,862 per share from August 3, 2013 to July 20, 2017. The subscription date is August 1 2012, and payment date is August 3, 2012.
NK CO., LTD. is a Korean company principally engaged in the manufacture and provision of fire extinguishing systems and high pressure gas cylinders. The Company operates its businesses through fire extinguishing system division, which provides carbon dioxide (CO2) systems for car carriers and engine rooms, loose fire fighting systems used as portable fire extinguishers for small scale fire, foam systems, dry powder systems and others; high pressure gas cylinder division, which provides industrial high pressure gas cylinders, compressed natural gas (CNG) fuel cylinders and industrial special gas cylinders, among others; ballast water treatment division, which provides ballast water treatment facilities, including ozone systems, filtration and electrolysis systems and others, and plant division, which mainly provides plant engineering services and relevant facilities. On December 18, 2013, the Company sold its entire shares of ENK CO., LTD.
NK CO., LTD. 