Sapphire Technology Co., Ltd (KOSDAQ:A123260) announced that it will issue 11th series convertible bond for proceeds of KRW 22,800,000,000 and 4,803,000 common shares at a price of KRW 1,499 per share for proceeds of KRW 7,199,697,000, for aggregate gross proceeds of KRW 29,999,697,000 on November 29, 2018. The transaction will include participation from new investor Beijing Hwatech Power Science Technology Development Limited Company through third party allotment. The bonds will bear interest of 2% and yield to maturity of 5% and matures on December 24, 2021. The bonds are convertible into 13,043,478 shares representing 35.2% stake at a fixed conversion price of KRW 1,748 per share. The conversion period will start from December 24, 2019 to November 24, 2021. The bonds will be issued at par and shares will be issued at premium. The subscription date for bond is November 29, 2018. The payment date for bond is December 24, 2018 and for shares is February 22, 2019. The shares are subject to hold period of 1 year. The transaction has been approved by the board of directors of the company.