Samkang M&T Co.,Ltd announced that it expects to receive KRW 10 billion in funding from a group of investors.
September 20, 2018
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Samkang M&T Co.,Ltd (KOSDAQ:A100090) announced a private placement of 3rd series unsecured unregistered convertible bonds for gross proceeds of KRW 10,000,000,000 on September 21, 2018. The bonds are zero-coupon, have yield to maturity of 1% and will mature on September 28, 2023. The bonds are 100% convertible into 2,316,960 common shares for 8.19% stake of the company at a conversion price of KRW 4,316 per share from September 28, 2019 to August 28, 2023. The transaction will include participation from returning investor Shinhan Investment Corp. for KRW 3,000,000,000, new investors BFA Co.,Ltd. for KRW 1,000,000,000, IBK Capital Corporation for KRW 1,000,000,000, GVA Universe Hedge Fund for KRW 2,300,000,000, GVA Mezz-V Hedge Fund for KRW 350,000,000, GVA KOSDAQ Venture Hedge Fund for KRW 150,000,000, GVA KOSDAQ IPO-I Hedge Fund for KRW 200,000,000, C Square Mezzanine Plus Hedge Fund 6 for KRW 400,000,000, C Square Mezzanine Plus Hedge Fund 7 for KRW 300,000,000, C Square Mezzanine Plus Hedge Fund 12 for KRW 300,000,000, Gwangyoon Co., Ltd. for KRW 500,000,000 and individual investor Lee, Jinsoo for KRW 500,000,000. The transaction has been approved by the board of directors of the company. The transaction is expected to close on September 28, 2018.
SK Oceanplant Co Ltd, formerly Samkang M&T Co Ltd, is a Korea-based company mainly engaged in plant construction. The Company operates through six segments. The Plant segment is engaged in the construction of offshore and onshore plants. The Thick Steel Pipe segment is engaged in the construction of pipes for marine and architectural structures. The Repair and Remodeling segment is engaged in ship repair, remodeling and periodic inspections. The Shipbuilding segment is engaged in the construction of new ships and the production of blocks. The Special Ships segment is engaged in the construction of defense and government ships. The Other segment provides services and goods.
SK OCEANPLANT CO.,LTD 
