Choil Aluminum Co., Ltd. announced that it expects to receive KRW 3 billion in funding from Shinwoo Metal Korea Co., Ltd. and another investor
March 25, 2020
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Choil Aluminum Co., Ltd. (KOSE:A018470) announced a private placement of 8th non-guaranteed private equity convertible bonds for gross proceeds of KRW 3,000,000,000 on March 26, 2020. The maturity date of bonds is March 27, 2023. The bonds will bear coupon rate of 1% and interest rate of 3%. The bonds are 100% convertible into common shares at a price of KRW 500 per share into 6,000,000 common shares. The conversion period start date is March 27, 2021 and end date is February 27, 2023. The transaction has been approved by the company’s board of directors. The transaction is expected to close on March 27, 2020. The securities issued in the transaction are subject to hold period of one year. The transaction includes participation from new investor Shinwoo Metal Korea Co., Ltd. for KRW 1,000,000,000 and new individual investor Choi Jung Soo for KRW 2,000,000,000.
CHOIL ALUMINUM CO., LTD. is a Korea-based company engaged in the manufacturing and marketing of aluminum products. The Company's products consist of coiled sheets used for foil stocks, fin stocks, condenser cases, mold transformers, electrical wire covers and insulator covering materials; sheets and plates used for litho sheets, cosmetic caps, pilfer proof (PP) caps, closure sheets, name plates and sound proofing walls; embossed sheets used for exterior and interior decorations for construction; circled sheets used for household goods and reflectors for lights, as well as bands used in cosmetic caps and electrical parts and electronic parts. The Company distributes its products within domestic market and to overseas markets including Southeast Asia, China, Japan, the United States and Europe.
CHOIL ALUMINUM CO., LTD. 