Korea Steel Shapes Co., Ltd. announced a private placement of round 2 bearer interest non-guaranteed private convertible bonds for gross proceeds of KRW 20,000 million on November 30, 2021. The transaction will include participation from KG Dongbusteel Co., Ltd. The bonds bear maturity rate of 5% and will mature on December 2, 2024. The bonds will be 100% convertible into 6,715,916 shares at a conversion price of KRW 2,978.

The conversion period will start from December 2, 2022 to November 2, 2024. The transaction is expected to close on December 2, 2021. The bonds issued are subject to restriction period of one year from issuance.

The transaction was approved by the board of directors of the company.