Iljin Display Co., Ltd. announced that it expects to receive KRW 20 billion in funding from ILJIN SNT Co., Ltd and another investor
July 12, 2021
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Iljin Display Co., Ltd. announced a private placement of 18th series non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 20,000,000,000 on July 12, 2021. The transaction will include participation from ILJIN SNT Co., Ltd. for KRW 10,000,000,000 and returning investor, Heo, Jin-gyu for KRW 10,000,000,000. The bonds will be issued at par. The bonds will carry no surface interest rate and yield to maturity of 6%. The bonds will mature on July 14, 2024. The bonds will be fully convertible at a price of KRW 4,388 per share between the period of July 14, 2022 to June 14, 2024. The transaction has been approved by the board of directors of the company. The expected payment date is July 14, 2021. The securities issued in the transaction is subject to hold period of 1 year from issuance.
ILJIN DISPLAY CO., LTD. is a Korea-based company mainly engaged in the manufacture of touch screen panels. The Company provides two categories of products: touch screen panels (TSPs), which are used in various fields, such as navigations, plasma display panels (PDPs), mobile phones, tablet personal computers (PCs) and others, and light-emitting diode (LED) materials, such as sapphire wafers. The Company distributes its products within domestic market and to overseas markets.