Jokwang ILI Co., Ltd. announced that it expects to receive KRW 10 billion in funding
August 26, 2020
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Jokwang ILI Co., Ltd. (KOSDAQ:A044060) announced a private placement of round 3 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on August 27, 2020. The transaction will include participation from Cater Fund. The bonds bear a coupon rate of 1% and yield to maturity of 1%. The maturity date of bonds is August 28, 2023. The bonds are 100% convertible into 1,703,577 shares representing 14.9% stake at a conversion price of KRW 5,870 per share. The conversion period will start from August 28, 2021 and will end on July 28, 2023. The subscription and payment date are August 27, 2020 and August 28, 2020 respectively. The transaction has been approved by board of directors of the company.
Jokwang I.L.I. Co.,Ltd is a Korea-based company primarily engaged in the manufacture and distribution of valves. The Companyâs valves mainly consist of safety relief valves, stream traps, reducing and regulating valves, strainers and others. Its products are principally used in shipbuilding, construction, petrochemical plant and nuclear power sectors. The Company is also engaged in the plant rental business. The Company distributes its products within domestic market and to overseas markets.
JOKWANG ILI CO., LTD. 
