Yuyang D&U Co.,Ltd. announced that it expects to receive KRW 30 billion in funding
October 31, 2018
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Yuyang D&U Co.,Ltd. (KOSE:A011690) announced a private placement of 29th series unregistered unguaranteed private convertible bonds for gross proceeds of KRW 30,000,000,000 on October 31, 2018. The transaction include participation from new investors, Widwin Investment Fund 41 which will acquire bonds worth KRW 10,000,000,000, JK Partners Co., Ltd. which will acquire bonds worth KRW 8,500,000,000, Donghwan Yoon which will acquire bonds worth KRW 5,000,000,000, Jungsim Kim which will acquire bonds worth KRW 3,000,000,000, Byungho Kwon which will acquire bonds worth KRW 2,000,000,000, and Guchul Jung which will acquire bonds worth KRW 1,500,000,000. The bond is issued at 1% coupon rate and 3% yield to maturity rate. The bonds can be 100% converted into common shares of the company at a fixed conversion price of KRW 6,820 per share. The maturity date of the bond is November 27, 2021. The bond will be converted into 4,398,826 shares. The conversion period is from November 27, 2019 to October 27, 2021. The transaction has been approved by board of directors of the company. The subscription date of bond is November 2, 2018. The payment date is November 27, 2018.
Y2 Solution Co Ltd, formerly Yuyang D&U Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of power supply equipment. The Company operates its business through four segments. The Switching Mode Power Supply (SMPS) segment engages in the manufacture and sale of SMPSs for liquid crystal display (LCD), light emitting diode (LED), smart, organic light emitting diode (OLED), and ultra high definition television (UHD TV). The LED segment provides LED lighting products. The Chemical Wholesale segment operates a distribution business that mainly imports petrochemical intermediate raw materials and solvent cleaners from China and Japan, supplies them to demanding enterprises. The Other Business segment is engaged in the development of new biopharmaceuticals, and others.