KANGWON Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Ellington Fund Inc
November 18, 2019
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Welcron Kangwon Co., Ltd. (KOSDAQ:A114190) announced a private placement of series 4 unregistered private convertible bonds for gross proceeds of KRW 10,000,000,000 on November 19, 2019. The bonds will carry a coupon rate of 4% and yield to maturity of 5%. The bonds will mature on January 15, 2023. The bonds are convertible into 2,529,724 shares at a fixed conversion price of KRW 3,953 and the conversion period starts from January 15, 2021 to December 15, 2022. The transaction will include participation from Round Invest Fund. The transaction is expected to close on January 15, 2020. The transaction was approved by the board of directors of the company.
Kangwon Energy Co Ltd, formerly Kangwon Co Ltd is a Korea-based company engaged in the manufacture and sale of industrial plant equipment. The Company operates its business through Industrial Plant Equipment segment. The Industrial Plant Equipment segment manufactures and sells industrial boiler equipment, chemical equipment, and environmental energy equipment, such as water pipe boilers, auxiliary power boilers, sulfur recovery equipment, thermal fluid boilers, and waste heat recovery equipment. The Company distributes its products in both domestic and overseas markets.