Samkang M&T Co.,Ltd announced that it expects to receive KRW 34 billion in funding
November 19, 2020
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Samkang M&T Co.,Ltd (KOSDAQ:A100090) announced a private placement of series 7 non-guaranteed private convertible bonds with bearer interest for gross proceeds of KRW 34,000,000,000 on November 20, 2020. The transaction included participation from Midas IBC Green New Deal New Technology Fund for KRW 26,000,000,000 and Midas Growth Support Private Equity Partnership for KRW 8,000,000,000. The bonds are zero coupon and will mature on November 25, 2024. The bonds are 100% convertible into 1,812,559 common shares for 4.9% stake of the company at a conversion price of KRW 18,758 per share from November 25, 2021 to October 25, 2024. The transaction has been approved by the board of directors of the company. The subscription date is November 24, 2020 and the payment date is November 25, 2020. The bonds carry a hold period of one year from the date of issue.
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 
