ICK Co., Ltd. (KOSDAQ:A068940) announced a private placement of 10th bearer unguaranteed private convertible bonds for gross proceeds of KRW 8,000,000,000 on November 8, 2019. The bond does not carry an interest rate and carries yield to maturity if 3%. The bond will mature on November 12, 2022.

The transaction will include participation from new investors Shinhan Investment Corp. for KRW 2,000,000,000, Mirae Asset Daewoo Co., Ltd. (KOSE:A006800) for KRW 1,500,000,000, NH Investment & Securities Co., Ltd. (KOSE:A005940) for KRW 1,500,000,000, and Samsung Securities Co.,Ltd. (KOSE:A016360)for KRW 3,000,000,000. The debentures are 100% convertible into 4,329,004 common shares at a price of KRW 1,848 per share.

The conversion period starts from November 12, 2020 to October 12, 2022. The transaction is expected to close on November 12, 2019. The transaction was approved by board of directors of the company.