Seojin System Decides to Issue Convertible Bonds Worth 188 Billion KRW
[Asia Economy Reporter Moon Hyewon] Seojin System announced on the 16th that it has decided to issue convertible bonds (CB) worth a total of 188 billion KRW to raise operating and facility funds.
The conversion price is 47,000 KRW each, and 170 billion KRW of this is perpetual bonds. Although the maturity is 30 years, it can be extended continuously for 30 years at a time at Seojin System's discretion. Accounting-wise, it is recognized as equity rather than debt. The company plans to accelerate business expansion next year through large-scale fundraising.
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Jung Naehyuk, CEO of Seojin System, said, "We take pride in having focused on timely research and development (R&D) and facility investment so far, and we will establish ourselves as a central company within the paradigm of various global advanced industries," adding, "We will repay investors' trust with performance next year as well."
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