KTB Investment & Securities Co., Ltd. announced that it expects to receive KRW 47.999980875 billion in funding from The Correctional Mutual Aid Association, OK Savings Bank Co.,Ltd., KB Securities Co., Ltd., Yesco Holdings Co., Ltd.
March 16, 2022
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KTB Investment & Securities Co., Ltd. announced that it will issue 9,552,235 Redeemable Convertible Preferred Shares at a price of KRW 5,025 for gross proceeds of KRW 47,999,980,875 on March 17, 2022. The transaction will include participation from returning investor Han2 Capital for 1,990,049 shares and new investors The Correctional Mutual Aid Association for 995,024 shares, OK Savings Bank Co.,Ltd. for 1,592,039 shares, KB Securities Co., Ltd. for 3,980,099 shares and Yesco Holdings Co., Ltd. for 995,024 shares. The conversion period of Class 1 redeemable convertible preferred stock is May 01, 2028 to March 30, 2030 and of Class 2 redeemable convertible preferred stock is March 31, 2023 to March 30, 2028. The securities are issued at a premium of 0.67% to the base price. All securities issued in the transaction are subject to a hold period of 1 year from the date of issuance. The transaction is expected to close on March 30, 2022. The transaction has been approved by the board of directors of the company.
Yesco Holdings Co., Ltd., formerly YESCO CO.,LTD., is a Korea-based company mainly engaged in the provision of city natural gas. The Company operates its business through five divisions: city gas division, which provides liquefied natural gas (LNG) and compressed natural gas (CNG), as well as gas meters and gas piping works; construction and precast concrete (PC) division, which engages in the construction materials manufacturing, civil engineering construction and housing rental and sale business; flange division, which produces wood drums and other electrical cable packaging supplies; television (TV) division, which mainly manufactures digital TV cases and vibration motors, and other division, which provides automobile internal materials and others.
KTB Investment & Securities Co., Ltd. announced that it expects to receive KRW 47.999980875 billion in funding from The Correctional Mutual Aid Association, OK Savings Bank Co.,Ltd., KB Securities Co., Ltd., Yesco Holdings Co., Ltd.