Russell Co., Ltd. announced that it expects to receive KRW 10 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm
April 12, 2021
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Russell Co., Ltd. (KOSDAQ:A217500) announced a private placement of round 2 non-guaranteed private equity convertible bonds with bearer interest for gross proceeds of KRW 10,000,000,000 on April 12, 2021. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm for KRW 3,000,000,000, Korea Investment & Securities Co., Ltd., Investment Arm for KRW 2,000,000,000 and Samsung Securities Co. Ltd., Investment Arm for KRW 5,000,000,000. The bonds are zero coupon bonds with no yield to maturity, are issued at par and will mature on April 14, 2026. The bonds are fully convertible into 1,650,165 common shares representing 4.93% stake at a conversion price of KRW 6,060 per share from April 14, 2022 to March 14, 2026. The transaction has been approved by the board of directors of the company. The bonds are subject to prohibition of conversion and division of rights for one year from the date of issue of bonds. The subscription date and payment date is on April 14, 2021.
Russell Co Ltd is a Korea-based company principally engaged in the semiconductor business. The Company is engaged in the manufacture and sale of semiconductor equipment and parts such as cable assies, heater plates and other products. In addition, the Company is engaged in the unmanned automation system business including automated guided vehicles (AGVs) manufacturing.
Russell Co., Ltd. announced that it expects to receive KRW 10 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm