KANGLIM Co., Ltd announced that it expects to receive KRW 20 billion in funding
November 29, 2021
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KANGLIM Co., Ltd. announced a private placement of round 8 non-guaranteed private equity convertible bonds with domestic bearer interest for gross proceeds of KRW 20,000,000,000 on November 30, 2021. The transaction will include participation from SJ union for KRW 20,000,000,000. The bonds carry a coupon rate of 0% and interest rate to maturity of 3%. The bonds will mature on February 4, 2025. The bonds are fully convertible at a fixed conversion of KRW 2,475 per share into 8,080,808 common shares from February 04, 2023 and January 04, 2025. The company expects to close the transaction on February 04, 2022. The transaction was approved by the board of directors of the company.
KANGLIM Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of special vehicles and cranes. The Company operates its business in two divisions: special purpose vehicle division, which produces fire fighting trucks such as fire pumpers, chemical fire fighting trucks, water tank fire trucks, rescue trucks and others, environmental work vehicles such as road sweepers, high pressure water spray trucks, garbage compactors and others, and electrical work vehicles such as mobile generator trucks, auger cranes and others, as well as crane division, which produces stick boom cranes and knuckle boom cranes under the brand names of KS, KN and others. The Company distributes its products within domestic market and to overseas markets.
KANGLIM CO., LTD 
