Hanil Forging Industrial Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Hanyang Securities Co., Ltd., Investment Arm, Shinhan Financial Investment Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm and other investors
September 12, 2021
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Hanil Forging Industrial Co., Ltd. announced a private placement round 3 unregistered coupon non-guaranteed private convertible bond for gross proceeds of KRW 10,000,000,000 on September 13, 2021.The transaction included participation from fund1 for KRW 1,000,000,000, fund 2 for KRW 1,400,000,000, fund 3 for KRW 100,000,000, IBK Financial Group Synergy Ivy Business Reorganization New Technology Fund for KRW 4,500,000,000, Hanyang Securities Co., Ltd., Investment Arm for KRW 1,000,000,000, Shinhan Financial Investment Co., Ltd., Investment Arm for KRW 1,000,000,000 and Korea Investment & Securities Co., Ltd., Investment Arm for KRW 1,000,000,000. The bonds are issued at an interest rate of 0% with yield to maturity of 0%. The maturity date is on September 24, 2026. The bonds are fully convertible into 2,672,367 common shares at a conversion price of KRW 3,742 per share. The conversion starts from September 24, 2022 and end on August 24, 2026. The transaction is expected to close on September 24, 2021. The securities are subjected to one year hold period.
Hanil Forging Industrial Co., Ltd is a Korea-based company engaged in the provision of components for automobiles and other industrial equipment. The Company's product portfolio consists of automobile components, including axle shafts, spindles, ring gears, shafts, steering devices and other parts, which are used for automobile transmission devices; defense product components such as warheads and airframes for tanks, warships and aircrafts, as well as other forging components used for ships, wind power equipment, aviation industry, industrial machines, agricultural machines and heavy equipment. The Company distributes its products within domestic market and to overseas market.
Hanil Forging Industrial Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Hanyang Securities Co., Ltd., Investment Arm, Shinhan Financial Investment Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm and other investors