The Codi to Raise KRW30 Billion via Private Convertible Bond Issuance

MT Newswires Live

Sep 08

The Codi (KOSDAQ:A224060) has approved a 30 billion won private convertible bond issue, with proceeds earmarked for future acquisitions and business diversification.

The bonds carry a 3% coupon rate and 4% yield to maturity, mature on Oct. 6, 2029, and include a put option allowing early redemption starting October 2027, according to a bourse filing on Tuesday.

The conversion price is set at 3,550 won per share, with the conversion period running from October 2027 to September 2029, potentially diluting existing shareholders by approximately 164% if fully converted.

The bonds will be privately placed with Goldmark Union and Horizon Union, both selected for their funding capacity, and are subject to a one-year lock-up on conversion and face-value division.

Proceeds will be allocated to acquiring securities of other corporations, with specific targets and terms to be disclosed upon finalization through a separate regulatory filing.

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