KB Metal Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Synergy Asset Management Co., Ltd., Shinhan Capital Co., Ltd. and other investors
July 20, 2017
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KB Metal Co., Ltd. (KOSDAQ:A024840) announced a private placement of 2nd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000 on July 21, 2017. The transaction will involve participation from new investors including Synergy Asset Management Co., Ltd. for KRW 4,400,000,000, PineAsia A1 Season V Grand Prix Private Investment Hedge Fund [Bond Balanced] and PineAsia A1 Season V Mezzanine Private Investment Hedge Fund A-1,KB-1,KB-2,KB-3,KB-4,S-1,SY-1 [Bond Balanced] for KRW 2,100,000,000, Shinhan Capital Co., Ltd. for KRW 2,000,000,000 and other investors. The bonds will be fully convertible into 4,890,772 common shares of the company at a fixed conversion price of KRW 3,067 per share between July 25, 2018 and June 25, 2022. The bonds will mature on July 25, 2022. The subscription and payment date for the bonds is July 25, 2017. The transaction has been approved by the board of directors of the company.
KBI METAL CO., LTD., formerly KB METAL CO., LTD., is a company mainly engaged in the production and sale of copper wires. Along with subsidiaries, the Company operates its business through three segments. The Metal Business segment is mainly involved in the manufacturing and sale of copper wires used in wires. The Electric Field Business segment is mainly engaged in the manufacturing and sale of cores used in automobiles, electric and electronic products; generators used in heavy equipment and industrial machineries; and other products related with electric field. The Cable Business segment is mainly involved in the production and supply of wires.
KB Metal Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Synergy Asset Management Co., Ltd., Shinhan Capital Co., Ltd. and other investors