DPECO Co.,Ltd. announced that it expects to receive KRW 3 billion in funding from Seoryoung Enterprise Co., Ltd., Korea Development Bank, Investment Arm
August 04, 2020
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DPECO Co.,Ltd. (XKON:A163430) announced a private placement of series 5 of non-guaranteed private convertible bonds for gross proceeds of KRW 3,000,000,000 on August 5, 2020. The transaction will involve participation from new investors Korea Development Bank, Investment Arm, through KDB Industrial Bank Ansan Branch for KRW 1,000,000,000 and Seoryoung Enterprise Co., Ltd. for KRW 2,000,000,000. The bonds have a surface interest rate of 1% and interest rate of 6%. The bond maturity date is August 7, 2023. The bonds are fully convertible into 592,300 shares at a conversion price of KRW 5,065 per share from August 7, 2021 and ends on July 7, 2023. The securities issued in the transaction will be subject to a lock up period of one year. The transaction was approved by the board of directors of the company. The transaction is expected to close on August 7, 2020.
DPECO CO.,LTD. is a Korea-based company engaged in the engineering services related to automotive and other manufacturing industries. The Company's services in the automotive development covers styling and modeling with model build, engineering design, component design, and so on. In the sector of manufacturing engineering, it offers services such as process engineering, drawing review for productivity and quality verification.
DPECO Co.,Ltd. announced that it expects to receive KRW 3 billion in funding from Seoryoung Enterprise Co., Ltd., Korea Development Bank, Investment Arm