SHINWON Construction co.,Ltd. announced that it has received KRW 13 billion in funding
September 20, 2018
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SHINWON Construction co.,Ltd. (KOSDAQ:A017000) announced a private placement of 44th series unregistered coupon unguaranteed private placement convertible bond for gross proceeds of KRW 13,000,000,000 on September 21, 2018 The transaction will include participation from new investor Morning City Investment Limited Company. The bonds will be issued at par. The bonds carry coupon and yield to maturity of 3%. The bonds will mature on September 21, 2021. The bonds can be 100% converted into 2,600,000 common shares for 25.82% stake of the company at a fixed conversion price of KRW 5,000 per share. The conversion period of the securities is from September 21, 2019 to August 21, 2021. The transaction has been approved by the board of directors of the company. The subscription and payment date for the bonds are September 21, 2018. The warrants will entitle the holder to purchase 5,050,505 common shares at an exercise price of KRW 3,960 per share from July 12, 2019 to June 12, 2021.
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 