NK Co., Ltd. announced that it expects to receive KRW 11 billion in funding
May 25, 2020
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NK Co., Ltd. (KOSE:A085310) announced a private placement of 9th series non-guaranteed private equity convertible bonds for gross proceeds of KRW 11,000,000,000 on May 26, 2020. The transaction will include participation from Hyundai-Surim Championship Investment Association for KRW 10,000,000,000 and SR Blue Economy Investment Association for 1,000,000,000.The bonds will carry Surface interest rate of 1% and a fixed coupon rate of 4% per annum. The bonds will mature on May 27, 2023. The bonds will be convertible into 11,789,924 common shares at a fixed conversion price of KRW 933 per share at 100% conversion rate. The conversion period will start from May 27, 2021 and end on April 27, 2023. The subscription and payment date is May 27, 2020. The transaction has been approved by the board of directors of the company.
NK CO., LTD. is a Korean company principally engaged in the manufacture and provision of fire extinguishing systems and high pressure gas cylinders. The Company operates its businesses through fire extinguishing system division, which provides carbon dioxide (CO2) systems for car carriers and engine rooms, loose fire fighting systems used as portable fire extinguishers for small scale fire, foam systems, dry powder systems and others; high pressure gas cylinder division, which provides industrial high pressure gas cylinders, compressed natural gas (CNG) fuel cylinders and industrial special gas cylinders, among others; ballast water treatment division, which provides ballast water treatment facilities, including ozone systems, filtration and electrolysis systems and others, and plant division, which mainly provides plant engineering services and relevant facilities. On December 18, 2013, the Company sold its entire shares of ENK CO., LTD.
NK CO., LTD. 