Daewon Cable. Co., Ltd. announced that it expects to receive KRW 3 billion in funding
July 18, 2019
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Daewon Cable. Co., Ltd. (KOSE:A006340) announced a private placement of round 24 unregistered coupon unguaranteed private convertible bonds for the gross proceeds of KRW 3,000,000,000 on July 19, 2019. The transaction will include participation from individual investor Jeongseok Seo. The bonds carry coupon rate of zero and yield to maturity of 4%. The bonds will mature on July 23, 2024. The subscription and payment date for the bonds are July 23, 2019. The bonds will be fullly convertible into 2,291,825 common shares at an conversion price of KRW 1,309 per share from July 23, 2020 to June 23, 2024. The company has received approval from the board of directors.
DAEWON CABLE. CO., LTD. is a Korea-based company mainly engaged in the manufacture of cables and wires. The Company produces copper and aluminum wires, naked electric wires, building wires, polyvinyl chloride (PVC) insulated wires, power and control cables, data and telecommunication cables, optical fiber cables, underground residential distribution (URD) power cables, local area network (LAN) cables, flame retardant cables, power supply wires and others. The products are used for electricity transmission and distribution, as well as city downtown and outside communications. It also involves in the processing business through its affiliate. The Company distributes its products within domestic market and to overseas markets. On June 24, 2013, the Company acquired 100% shares of a Korea-based company, which is mainly engaged in the designated waste treatments.