SHINWON Construction co.,Ltd. announced that it expects to receive KRW 5 billion in funding from IBK Securities Co., Ltd.
July 29, 2019
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SHINWON Construction co.,Ltd. (KOSDAQ:A017000) announced that it will receive KRW 5,000,000,000 in a round of funding from IBK Securities Co., Ltd. on July 30, 2019. The company will issue series 47 unregistered coupon non-guaranteed private convertible bonds in the transaction. The carry a fixed surface interest rate of 3% and maturity interest rate of 6%. The bonds will mature on July 31, 2022. The company will pay the interest every 3 months from the issue date. The bonds are 100% convertible at a fixed conversion price of KRW 5,000 per share. Upon the conversion of the bonds the company will issue 1,000,000 common shares. The conversion period will start on September 1, 2020 and end on June 30, 2022. The company expects to close the transaction on July 31, 2019. The transaction was approved by the board of directors of the company.
SHINWON Construction co.,Ltd. is a Korea-based company mainly engaged in the construction business. The Company operates its business through four main divisions: housing division, architecture division, civil engineering division and leisure division. Its housing division constructs apartments and other residential buildings. Its architecture division constructs commercial buildings, office buildings, public buildings, educational facilities and others. Its civil engineering division constructs roads, tunnels, bridges, subways, railways, airports and harbors, as well as power plants, petrochemical plants, water and sewage treatment plants and others. Its leisure division constructs leisure facilities, such as golf courses and clubs.
SHINWON CONSTRUCTION COMPANY LTD 