PS Electronics to Raise 22 Billion Won Through Exchangeable Bonds...Accelerates Expansion of AI Server Business

by Jang Hyowon

Published 24 Apr.2026 08:20(KST)

PS Electronics to Raise 22 Billion Won Through Exchangeable Bonds...Accelerates Expansion of AI Server Business

PS Electronics will secure approximately 22 billion won in funding through the issuance of exchangeable bonds (EB) backed by shares of listed companies it currently holds. The company announced this fundraising plan on April 24.

This exchangeable bond will be issued using shares of six listed companies as underlying assets, with the exchange price set at about 20% higher than the recent weighted average share price of those stocks. Unlike traditional convertible bonds (CB) or redeemable convertible preferred shares (RCPS), these bonds are not converted into new shares of the company but are exchanged for existing shares held by PS Electronics. As a result, this structure is viewed as shareholder-friendly since it does not cause equity dilution or create an overhang risk.

The funds raised will be invested in expanding the company's high-performance server business, with a focus on artificial intelligence (AI) servers. Given the recent increase in data center investments and the rapidly growing demand for GPU-based servers, PS Electronics plans to accelerate revenue growth by securing related components, modules, and equipment.

PS Electronics has already established a foothold in the global market. On July 23 of last year, the company was selected as a global business partner of Super Micro Computer (SMCI), a U.S.-based AI server specialist. SMCI is a company that designs and manufactures server platforms optimized for high-performance GPUs such as the NVIDIA H100 and H200, and is regarded as a key player in the AI investment cycle thanks to its ability to supply products approximately six months faster than competitors.

The company plans to supply SMCI products sequentially by leveraging its domestic key client network. Initially, the focus will be on distribution and maintenance, but PS Electronics has also established a mid-to-long-term strategy to expand into original equipment manufacturing (OEM). The securities industry expects PS Electronics to secure the most meaningful supply capabilities among domestic partners in this field.

A company representative stated, "This exchangeable bond issuance is an efficient way to raise funds by utilizing existing assets, while minimizing shareholder value dilution," adding, "We will actively scale up our high-growth AI and high-performance server business to drive significant revenue growth."

Meanwhile, PS Electronics plans to strengthen its portfolio around high value-added businesses and build a foundation for sustainable growth in line with the expansion of the AI infrastructure market.