Wooriro Co., Ltd announced that it expects to receive KRW 10 billion in funding
January 18, 2018
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Wooriro Co., Ltd (KOSDAQ:A046970) announced a private placement of 7th series unregistered unguaranteed unsecured private convertible bonds for gross proceeds of KRW 10,000,000,000 with Mark Two Investment Co., Ltd. on January 18, 2018. The bonds will mature on January 24, 2021. The bonds will have coupon rate and yield to maturity of 4%. The bonds will be 100% convertible at a conversion price of KRW 3,098 per share into 3,227,888 shares. The conversion will start on January 24, 2019 and end on December 24, 2020. The subscription date will be January 22, 2018 and payment date will be January 24, 2018. The securities are subject to a hold period of 1 year. The transaction has been approved by the board of directors of the company.
WOORIRO CO., LTD, formerly WOORIRO OPTICAL TELECOM CO., LTD is a Korea-based company engaged in the manufacture of optical components for communication industry. The Company operates its business through two segments. The Optical Communication Business segment produces planar lightwave circuit (PLC) splitters including PLC wafers, PLC chips, PLC modules and others. The segment also manufactures photodiodes. The System Integration (SI) Business segment sells data storage devices.