DPECO Co.,Ltd. announced that it expects to receive KRW 1 billion in funding
January 05, 2021
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DPECO Co.,Ltd. (XKON:A163430) announced a private placement of series 6 non-guaranteed korean won privately converted bonds for gross proceeds of KRW 1,000,000,000 on January 5, 2021. The transaction will involve participation from Duk-sang Kim for KRW 850,000,000 and Jong Ho Park for KRW 150,000,000. The bonds have a coupon rate of 1% and interest rate to maturity of 4%. The bond maturity date is January 7, 2025. The bonds are fully convertible into 225,733 shares at a conversion price of KRW 4,430 per share from January 7, 2022 and ends on December 7, 2024. The transaction was approved by the board of directors of the company. The bonds will be subject to hold period of one year. The transaction is expected to close on January 7, 2021.
DPECO CO.,LTD. is a Korea-based company engaged in the engineering services related to automotive and other manufacturing industries. The Company's services in the automotive development covers styling and modeling with model build, engineering design, component design, and so on. In the sector of manufacturing engineering, it offers services such as process engineering, drawing review for productivity and quality verification.