The stock price of Exion Group, a KOSDAQ-listed company, showed strength early on the 25th. It is interpreted that buying interest surged due to the news of issuing perpetual convertible bonds (CB) recognized as capital.
As of 9:40 a.m. on the same day, Exion Group is trading at 1,011 won, up 169 won (20.07%) from the previous trading day.
The electronic commerce corporation Exion Group announced that it decided to issue the 10th series of unregistered, non-guaranteed private perpetual convertible bonds worth 2 billion won to secure funding for business acquisitions after the market closed the previous day. Both the coupon interest rate and the maturity interest rate are 3%, and the bond's maturity date is March 24, 2055. The conversion price is 1,369 won.
At the end of August last year, Organ Eco Tech signed a business transfer contract with its polymer business division and purchased the CB. Although perpetual CBs have a maturity, the debtor can extend the maturity indefinitely if they wish, essentially making them bonds without maturity. Additionally, they are recognized as capital rather than liabilities in accounting, which helps improve the financial structure.
Previously, Exion Group disclosed on the 21st that the submission of last year's audit report would be delayed because the company failed to provide the necessary audit materials to the auditor for forming an opinion. Consequently, the stock price of Exion Group plunged 29.95% on the next transaction day, the 24th.