Wooriro Co., Ltd announced that it expects to receive KRW 5 billion in funding from Hubinvest Co.,Ltd and another investor
December 19, 2018
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Wooriro Co., Ltd (KOSDAQ:A046970) announced a private placement of 9th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on December 20, 2018. The transaction includes participation from Hubinvest Co.,Ltd and JS Fund 1 for KRW 2,500,000,000 each. The bonds carry coupon rate of 4% and yield to maturity of 4%. The bonds will mature on December 26, 2021. The bonds are 100% convertible at fixed conversion price of KRW 2,118 per share into 2,360,717 shares. The conversion period will start on December 26, 2019 and will end on November 26, 2021. The subscription date is December 24, 2018 and the payment date is December 26, 2018. The transaction has been approved by the board of directors of the company.
WOORIRO CO., LTD, formerly WOORIRO OPTICAL TELECOM CO., LTD is a Korea-based company engaged in the manufacture of optical components for communication industry. The Company operates its business through two segments. The Optical Communication Business segment produces planar lightwave circuit (PLC) splitters including PLC wafers, PLC chips, PLC modules and others. The segment also manufactures photodiodes. The System Integration (SI) Business segment sells data storage devices.
WOORIRO CO., LTD 
