Daesung Industrial Co., Ltd. announced that it expects to receive KRW 10 billion in funding from a group of investors
July 21, 2019
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Daesung Industrial Co., Ltd. (KOSE:A128820) announced a private placement of 70th unregistered unguaranteed private exchangeable bonds for gross proceeds of KRW 10,000,000,000 on July 22, 2019. The transaction will include participation from IBKC-GMB New Growth Investment Fund; a fund managed by IBK Capital Corporation and GMB Investment Co., Ltd. for KRW 2,000,000,000, Shinhan Investment Corp. for KRW 2,000,000,000, Investment Arm, Hanyang Securities Co. Ltd., Investment Arm for KRW 1,000,000,000, Susung KOSDAQ Venture Multi-Asset Public Stock Hedge Fund 2 for KRW 500,000,000, Susung Multi Mezzanine P8 Hedge Fund for KRW 500,000,000, GVA Pure Mezz Hedge Fund for KRW 1,000,000,000, Skywalk Canonico Hedge Fund 1 for KRW 2,500,000,000, and Skywalk Canonico Hedge Fund 1 for KRW 500,000,000. The bonds will mature on July 24, 2022. The bonds are zero-coupon and carry yield to maturity of 2%. The bonds will be 100% exchangeable into the common shares at KRW 5,130 per share. The exchange requisition period will start on July 25, 2019 and end on June 24, 2022. The subscription and payment date is July 24, 2019. The transaction was approved by board of directors of the company.
Daesung Industrial Co., Ltd. is a Korea-based company mainly engaged in the distribution of petroleum gas. It operates its businesses through four segments. It oil/gas segment operates gas stations and charging stations, selling oils and other gases, as well as develops oil and gas fields in overseas mining lots. Its construction segment constructs residential, commercial and industrial buildings, including apartments, offices, hotels, theaters, factories and others. Its distribution segment operates complex shopping town, including department stores, hotels, musical theaters and others. Its other segment involves in the cogeneration business, providing local heat, steam and electricity; provision of gas meters, gas boilers and hydraulic valves used for agricultural machineries; computer system integration, as well as coal mining. On December 4, 2013, it transferred all the asset and debts of Kojen Business Unit to DS POWER CO,.LTD.
DAESUNG INDUSTRIAL CO., LTD. 
