Pusan Cast Iron Co., Ltd. announced that it expects to receive KRW 1.4 billion in funding from Dongansnr Co., Ltd. and other investors
July 23, 2021
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Pusan Cast Iron Co., Ltd. announced a private placement of round 10 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 1,400,000,000 on July 23, 2021. The transaction will include participation from Dongansnr Co., Ltd. for KRW 400,000,000, individual investors, Sehun Jang for KRW 600,000,000, Gun-ho Roh for KRW 200,000,000, Annyeong Pil for KRW 200,000,000. The bonds are fully convertible into 2,208,201 common shares of the company at conversion price of KRW 634 per share for 3.74% share ratio. The conversion period starts at July 27, 2022 and ends at June 27, 2025. The payment date is July 27, 2021. The bonds will carry a Coupon Rate of 2% and Maturity rate of 5% in the transaction. The bonds are subject to hold period of one year. The transaction has been approved by the board of directors of the company.
PUSAN CAST IRON CO., LTD. is a Korea-based company mainly engaged in the manufacturing of automobile components. The Companyâs main products consist of crank shafts, normal form (NF) carriers, knuckles, housings, differential cases, differential carriers, forks, brake carriers, rear carriers, brackets, hubs, truck drums, brake bridges, brake spiders, caliper discs, hub wheels, brake frames, bearing caps, caliper brakes and other automobile components. In addition, the Company provides engine materials and scrap irons. The Companyâs products are mainly used as parts for automobile brakes, engines and power transfer units. It distributes its products within domestic market and to overseas markets.
PUSAN CAST IRON CO., LTD. 
