This is an amended filing · View original →
Disclosure
IAI summary · Not investment advice
Incon corrected the conversion price of its KRW 15.0 billion Series 13 convertible bond to KRW 5,060 and added a refixing floor of KRW 3,542.
Commentary
AI commentary · Not investment advice
What happened
Incon filed a correction to its 13th convertible bond, with a face value of KRW 15.0 billion. The conversion price is KRW 5,060, and a new floor of KRW 3,542 was added for adjustments when the market price falls. The coupon rate is 4.0%, the maturity date is 2029.11.06, and the payment date is 2026.11.06. The bonds go to JK New Technology Investment Partnership No. 21 (KRW 14.3 billion) and Zebra Asset Management (KRW 800.0 million).
In the company's terms
Shares to be issued on conversion total 2,964,426, which is 39.23% of the total shares outstanding. The convertible share ratio of unredeemed bonds against issued shares is 64.56%, and the issue size is 63.4% of market capitalization. The call option price rate is stated as 11%.
What changes for shareholders
For shareholders, the conversion request period runs from 2027.11.06 to 2029.10.06. If conversion is requested in that period, new shares up to the stated number may be issued. The filing was received on 2026.10.29.
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