Korea Steel Shapes Co., Ltd. announced that it expects to receive KRW 20 billion in funding from IBK Capital Corporation, Shinhan Financial Investment Co., Ltd., Korea Investment & Securities Co., Ltd., Investment Arm, BNK Securities Co., Ltd., Investment Arm, Hanyang Securities Co., Ltd., Investment Arm
April 31, 2021
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Korea Steel Shapes Co., Ltd. (KOSE:A007280) announced a private placement of round 1 bearer interest non-guaranteed private convertible bonds for gross proceeds of KRW 20,000 million on April 1, 2021. The bonds bear a maturity interest rate of 0% and will expire on April 5, 2024. The bonds are fully convertible into common shares of 9,861,932 from April 5, 2022 to March 5, 2024 at a fixed conversion price of KRW 2,028 per share. The transaction is expected to close on April 5, 2021.The transaction was approved by the board of directors of the company. The transaction include participation from Korea Investment & Securities Co., Ltd., Investment Arm for KRW 3,000 million, Shinhan Financial Investment Co., Ltd. for KRW 1,000 million, returning investor IBK Capital Corporation for KRW 1,000 million, BNK Securities Co., Ltd., Investment Arm for KRW 1,000 million, Hanyang Securities Co. Ltd., Investment Arm for KRW 4,500 million, Synergy-NH Mezzanine Blind No. 1 New Technology Business Fund for KRW 700 million, and Synergy 4th Industry No. 15 New Technology Business Fund for KRW 800 million and other funds for remaining amount of the proceeds.
Korea Steel Co Ltd, formerly Korea Steel Shapes Co Ltd, is a Korea-based company mainly engaged in the manufacturing and sale of steel products. The Companyâs products include billets, section steels, such as equal angles, un-equal angles, channels, checked channels, elevator rails, profiles and others, steel bars, such as round steel bars, screw bar steels and square bar steels, as well as flat steels, among others. It also provides related by-products. The Companyâs products are used in shipbuilding, machinery, construction, civil engineering and other industries. The Company distributes its products within domestic market and to overseas markets.
Korea Steel Shapes Co., Ltd. announced that it expects to receive KRW 20 billion in funding from IBK Capital Corporation, Shinhan Financial Investment Co., Ltd., Korea Investment & Securities Co., Ltd., Investment Arm, BNK Securities Co., Ltd., Investment Arm, Hanyang Securities Co., Ltd., Investment Arm