CNPLUS said on the 13th that, in connection with its seventh convertible bond (CB), partial conversion into shares and acquisition before maturity have proceeded, resulting in a total of 4 billion won being settled.
According to a CNPLUS filing, 3 billion won of the seventh convertible bond was converted following the bondholders' requests for conversion into shares, and 1 billion won was acquired by the company before maturity after discussions with the bondholders.
With this measure, a total of 4 billion won of the seventh convertible bond has been settled. The convertible bonds acquired by the company were purchased over the counter using own funds. The future handling of the bonds will be decided by a board resolution, including options such as resale or cancellation.
A CNPLUS official said, "In accordance with procedures related to the convertible bonds, partial share conversion and early acquisition have proceeded," and added, "The company plans to continue pursuing convertible bond management and stabilization of its capital structure."
CNPLUS is promoting diversification of its business portfolio by maintaining a stable sales base in its existing connector business while expanding its renewable energy EPC business. Backed by these changes in its business structure, the company returned to an operating profit last year and is continuing its trend of improved performance.