Sambu Engineering & Construction Co., Ltd announced that it expects to receive KRW 35 billion in funding from Hosung Industrial Co. Ltd., and other investors
August 05, 2020
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Sambu Engineering & Construction Co., Ltd (KOSE:A001470) announced a private placement of series 70 domestic unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 35,000,000,000 on August 5, 2020. The transaction will include participation from new investors High Home Korea Co., Ltd. for KRW 6,700,000,000, First Time Co., Ltd. for KRW 6,700,000,000, Yeomyung Industrial Co., Ltd. for KRW 6,600,000,000, Shinmyeong Housing Co., Ltd. for KRW 4,200,000,000, Hosung Industrial Co. Ltd. for KRW 6,600,000,000, and Daeshin Development Engineering Co., Ltd. for KRW 4,200,000,000. The bonds are redeemable, will be issued at par, will carry 3% fixed coupon rate, 4% yield to maturity rate, will mature on December 29, 2023, and are fully convertible into 35,000,000 common shares representing 17.72% stake, at a fixed conversion price of KRW 1,000 per share from December 29, 2021 to November 29, 2023. The transaction has been approved by the board of directors of the company. The subscription date of the transaction is August 5, 2020, and the payment date is December 29, 2020.
Sambu Engineering & Construction Co Ltd, formerly Sambu Construction Co Ltd, is a Korea-based company engaged in the construction business. The Company operates its business through four segments: the Domestic Business segment, which constructs roads, subways, railways, power plants, dams, harbors, water and sewage treatment facilities, bridges, public buildings, apartments, office buildings and others; the Overseas Business segment, which engages in the overseas construction projects; the Steel segment, which constructs and installs steel structures, pre-stressed high strength concrete (PHC) piles and others, and the Other Business segment is engages in the sale of lands.
Sambu Engineering & Construction Co., Ltd announced that it expects to receive KRW 35 billion in funding from Hosung Industrial Co. Ltd., and other investors