Bokwang Industry Co., Ltd. (KOSDAQ:A225530) announced a private placement of series 1 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 8,200,000,000 on November 8, 2017. The transaction will involve participation from new investors Shinhan Capital Co., Ltd. for KRW 5,000,000,000, Moorim Capital Co., Ltd. for KRW 2,000,000,000, and Hanyang Securities Co. Ltd. (KOSE:A001750) for KRW 1,200,000,000.

The bonds will mature on November 10, 2020 and will have a yield to maturity of 1.5%. The bonds will not carry any coupon rate. The bonds will be fully convertible into 1,308,232 common shares of the company at a fixed conversion price of KRW 6,268 per share from November 10, 2018 to October 10, 2020.

The subscription and expected payment date of the transaction is November 10, 2017. The transaction was approved by the board of directors of the company.