Dayou A-Tech Co.,Ltd announced that it expects to receive KRW 25 billion in funding
May 23, 2018
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Dayou A-Tech Co.,Ltd (KOSE:A002880) announced a private placement of 16th series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 25,000,000,000 on May 23, 2018. The transaction will involve participation from C&R No.2 SPC Limited. The bonds have a coupon rate of 1% and yield to maturity of 6%. The bonds will expire on May 25, 2023. The bonds are 100% convertible into common shares of the company at a price of KRW 1,444 from May 25, 2019 to May 24, 2023. The transaction will close on May 25, 2018. The transaction has been approved by the board of directors of the company.
DAYOU A-TECH CO., LTD is a Korea-based company principally engaged in the manufacture of automobile parts. The Company mainly operates through three divisions: automobile division, which involves in the manufacture of automobile seats and leasing business; alloy division, which involves in the provision of aluminum ingots, as well as solar power division, which involves in the provision of photovoltaic modules. Through its subsidiaries, the Company is also involved in the development and operation of golf courses and other related leisure facilities.