Sambu Engineering & Construction Co., Ltd announced a private placement of series 71 domestic unregistered coupon nonguaranteed private convertible bond for a gross proceeds of KRW 20,000,000,000 on November 5, 2021. The transaction will include participation from Gangwon Construction Industry Co., Ltd. The bonds have a coupon rate of 3% and yield to maturity of 4%. The bonds will mature on December 29, 2024.

The bonds will be 100% converted into 9,483,167 common shares at a fixed conversion price of KRW 2,109 per share for an equity stake of 4.58%. The conversion period is from December 29, 2022 to November 29, 2024. The payment date of the transaction is December 29, 2021.

The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.