Korea Technology Increases Equity Capital through CB Conversion

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company (CEO Shin Yonggu), announced on the 25th that its equity ratio increased due to the conversion request of convertible bonds held by the largest shareholders and others.

The convertible CBs include approximately 4.5 billion KRW remaining from the 16th private placement convertible bonds held by the largest shareholder Korea Innovation, and 5 billion KRW from the 19th private placement convertible bonds held by Crown Industry, totaling 9.5 billion KRW.

Accordingly, the largest shareholder Korea Innovation now holds 15,772,869 shares (12.72%), an increase of 7,097,791 shares. In particular, the largest shareholder-related shares including affiliated stakes increased to 17.68%, resulting in a strengthened management control effect.

A Korea Technology official stated, "With this CB conversion, equity capital has increased, laying the foundation for strengthened control and management stabilization," adding, "Most of the previously issued convertible bonds have been converted into shares, and the remaining amounts held by the largest shareholder, which had been a burden, as well as most loans related to savings banks, have been settled, making the financial structure more solid."

CEO Shin Yonggu said, "We plan to soon settle the stock-backed loans of the largest shareholder's shares," and added, "There should be no risk regarding the largest shareholder's shares."

Meanwhile, Korea Technology has attracted attention by announcing through previous media reports that it will successively introduce Xiaomi's new product lineup domestically this year and actively enter the renewable energy business through its subsidiary Daewoo Shipbuilding & Marine Engineering Construction.

This content was produced with the assistance of AI translation services.