DigitalOptics Cancels Convertible Bonds Worth 38 Billion KRW... "Securing Financial Soundness"

[Asia Economy Reporter Jang Hyowon] Digital Optic is strengthening financial stability and enhancing shareholder value by acquiring and fully canceling convertible bonds.

Digital Optic announced on the 30th that it acquired convertible bonds worth 38 billion KRW issued in the 25th series before maturity. The repurchased convertible bonds will be entirely canceled.

Through this cancellation of convertible bonds, Digital Optic plans to eliminate potential shares that could be converted in the market in the future, thereby maximizing shareholder profits.

With the global spread of the COVID-19 Delta variant, Digital Optic explained that demand for COVID-19 transport kits is expected to increase. Additionally, with the resolution of the primer issue of Noble Bio, Digital Optic anticipates further expansion of sales in the second half of the year.

Furthermore, Digital Optic stated that it is exploring new business opportunities such as developing new items in the second half of the year in collaboration with Noble Bio. The company is actively pursuing business diversification in the bio sector through M&A and MOU agreements.

A company representative said, “Since Noble Bio is the largest shareholder of Digital Optic, although the worldwide distribution rights contract was terminated by mutual agreement to enhance shareholder value, the cooperative relationship with Noble Bio for the sale of transport kits, including swabs for COVID-19 specimen collection, and for business diversification in the bio sector will be maintained.” He added, “Through this cancellation of convertible bonds, Digital Optic’s debt ratio will decrease, and its financial structure will stabilize.”

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