Development Advance Solution Co., Ltd. announced that it expects to receive KRW 20 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Shinhan Investment Corp., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm
September 31, 2020
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Development Advance Solution Co., Ltd. (KOSE:A058730) announced a private placement of round 2 non-guaranteed private convertible bonds for gross proceeds of KRW 20,000,000,000 on September 1, 2020. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 400,000,000, Samsung Securities Co. Ltd., Investment Arm for KRW 5,000,000,000, Shinhan Investment Corp., Investment Arm for KRW 4,000,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 5,000,000,000, and Mirae Asset Daewoo Co., Ltd., Investment Arm for KRW 2,600,000,000. The coupon and maturity interest of the bond 0% and the debt maturity date is September 3, 2025. The bonds are 100% convertible into 4,133,085 common shares at a price of KRW 4,839 per shares. The conversion period will start from September 3, 2021 and ends on August 3, 2025. The transaction is expected to close on September 3, 2020. The transaction has been approved in the board of directors of the company.
Development Advance Solution Co.,Ltd. is a Korea-based company mainly engaged in the production and sale of road safety facilities. Along with subsidiaries, the Company operates its business through three segments. The Social Overhead Capital (SOC) segment is involved in the manufacturing and sale of road safety facilities. The road safety facilities include general guard rails, high specification guard rails, rigid differential guard rails, steel barriers, open protective fences and sound barrier walls, among others. The Building Material Business segment manufactures and sells deck plates and building materials. The New Renewable Energy Business segment operates the solar power generation facilities.
DEVELOPMENT ADVANCE SOLUTION CO.,LTD. 
