iWinPlus Issues 20 Billion KRW Convertible Bonds... Accelerates Business Activation

Activation of Image Sensor Packaging
Full-Scale Entry into Future Car Parts Market

[Asia Economy Reporter Kwangho Lee] iWinPlus is set to actively enter the future car parts market by revitalizing its image sensor packaging business through large-scale fundraising.

On the 16th, iWinPlus announced that it decided to issue convertible bonds (CB) worth 20 billion KRW. The coupon rate and maturity interest rate are both 6%, and the conversion request period is from October 14, 2023, to September 14, 2025.

Since the end of last year, iWinPlus has been investing in facilities for automotive image sensors. In May, it signed a memorandum of understanding (MOU) for technical cooperation with PixelPlus, a company specializing in image sensor design, to develop and supply automotive image sensors, strengthening its image sensor business.

An iWinPlus official stated, “With the decision to issue convertible bonds this time, we plan to expand into the future car parts market, including image sensor packaging. In the second half of the year, the automotive market is expected to be revitalized due to the easing of the semiconductor supply shortage for vehicles, and we anticipate accelerated growth through increased demand for automotive image sensors and expanded investment in our automation facilities.”

Meanwhile, on the 9th, Shin Gyu-jin, chairman of iWin, the largest shareholder of iWinPlus, acquired about 580,000 shares, judging that the stock price was undervalued compared to the corporate value.