Woori Technology, Inc. announced that it expects to receive KRW 10 billion in funding from Sangsangin Savings Bank, Investment Arm
November 10, 2020
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Woori Technology, Inc. (KOSDAQ:A032820) announced that it will issue series 11 unregistered nonguaranteed coupon private convertible bond for gross proceeds of KRW 10,000,000,000 on November 11, 2020. The transaction will include participation from Sangsangin Savings Bank, Investment Arm. The bonds carry coupon of 3% and 5% yield to maturity. The bonds will mature on November 13, 2023. The bonds are fully convertible into 7,782,101 shares representing 6.17% stake in the company at a conversion price of KRW 1,285 per share from November 13, 2021 and end on October 13, 2023. The transaction is expected to close on November 13, 2020 and the subscription date is November 11, 2020. The transaction was approved by the board of directors of the company. The bonds being issued pursuant to the transaction are subject to a hold period of one year from the date issue.
Woori Technology Inc. is a Korea-based company engaged in the design and manufacture of nuclear instrumentation and control systems. The Company operates in two business divisions: system division, which designs and produces nuclear control systems, such as plant monitoring systems (PMSs), plant annunciator systems (PASs), seismic monitoring systems (SMSs), loose part monitoring systems (LPMSs) and distributed control systems (DCSs), used in nuclear power plants, as well as new business division, which involves in the trading of multi personal computer (PC) system and mineral resources such as anthracite coals, steam coals and others, as well as provision of childâs crying reason analysis systems. It also involves in the leasing of non-residential buildings.
WOORI TECHNOLOGY, INC. 
