KANGLIM Co., Ltd. announced that it expects to receive KRW 10 billion in funding from Pantod Holdings Inc.
January 21, 2019
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KANGLIM Co., Ltd. (KOSDAQ:A014200) announced a private placement of 3rd series unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on January 21, 2019. The transaction will include participation from Chakhan E-Invest Co., Ltd. The bonds will be issued a par value. The bonds carry a fixed coupon of 1% per annum and yield to maturity of 3%. The bond would mature on April 22, 2022. The bond will be 100% convertible into 3,071,253 common shares for 5.8283% stake of the company at a fixed conversion price of KRW 3,256 per share from April 22, 2020 to April 22, 2022. The transaction is expected to close on April 22, 2019. The transaction has been approved by the board of directors of the company.
KANGLIM Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of special vehicles and cranes. The Company operates its business in two divisions: special purpose vehicle division, which produces fire fighting trucks such as fire pumpers, chemical fire fighting trucks, water tank fire trucks, rescue trucks and others, environmental work vehicles such as road sweepers, high pressure water spray trucks, garbage compactors and others, and electrical work vehicles such as mobile generator trucks, auger cranes and others, as well as crane division, which produces stick boom cranes and knuckle boom cranes under the brand names of KS, KN and others. The Company distributes its products within domestic market and to overseas markets.
KANGLIM CO., LTD 
