8th Danal CB Investors Hit Jackpot...160% Return Expected

8th CB Conversion Price at 3,136 Won... October 31 Closing Price at 8,060 Won
Stablecoin Expectations Drive Stock Up... 180% Surge in 2023 Alone

Investors who invested in the 8th Danal convertible bonds (CB) are expected to achieve a return of approximately 160%. This is due to growing expectations for the stablecoin business, which have driven Danal’s stock price to more than double compared to when the CBs were issued.

According to the Financial Supervisory Service’s electronic disclosure system (DART) on November 3, Danal announced on October 30 that the conversion rights for the 8th CB would be exercised. The requested amount is 14.4 billion won, with a conversion price of 3,136 won per share.

The expected listing date is November 13. As of October 31, Danal’s closing price was 8,060 won. With a simple calculation, investors could realize a capital gain of approximately 22.6 billion won. The return rate is about 157%.

Danal’s stock price remained in the 2,400 won range until April this year. However, as stablecoins gained attention in the domestic stock market, the stock price continued to rise sharply. In September this year, the price climbed as high as 11,000 won.

Danal is a company that provides payment gateway (PG) and electronic payment services. It launched the blockchain payment project Paycoin (PCI) in 2019. The company also has the capability to manage the entire process from issuance to distribution and settlement through an integrated platform.

In particular, Danal is rapidly advancing its stablecoin-related business. In July this year, the company filed for 20 trademarks related to stablecoins. Then, in September, it unveiled a demo version of a stablecoin-based payment platform.

That’s not all. Danal also launched the “Paycoin Mastercard,” a virtual asset-based debit card that allows users to directly top up Paycoin (PCI) and make real-time payments at Mastercard-affiliated merchants worldwide, both online and offline. Additionally, the company introduced “NC Wallet,” a non-custodial wallet equipped with stablecoin payment and integration features.

In October last year, Danal issued the 8th CB worth 35 billion won. The coupon and maturity interest rates are 0%. The conversion period runs from October 30, 2025 to September 30, 2029. The company issued the bonds to expand its payment services and pursue new business ventures.

Following this conversion, the remaining CB amount is 20.6 billion won. The total number of shares available for conversion is 6,568,877.

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