Aprogen KIC Issues Convertible Bonds Worth 20 Billion KRW

[Asia Economy Reporter Jang Hyowon] AprogenKIC announced on the 7th that it will issue the 24th series of unnamed, interest-bearing, unsecured private convertible bonds worth 20 billion KRW. The issuance target is Korea Bond Investment Advisory.

The convertible bonds have a coupon rate and maturity interest rate of 1% each. The conversion price is 2,118 KRW, and upon conversion, 9,442,870 AprogenKIC registered shares (5.14%) will be newly issued. The conversion request period is from January 22, 2022, to December 21, 2023.

Additionally, from six months after the bond issuance until one year and six months after, a call option is attached that allows Jibase or a third party designated by Jibase to request the sale of 50% of the bond principal.