Green Plus announced on the 17th that it has decided to issue 15 billion won (USD 10,348,503,09) worth of permanent convertible bonds (CB) with Korea Investment & Securities as its representative organizer. This permanent CB is recognized as capital in accounting.
Through this financing, Green Plus secured the purchase of raw materials needed to build a smart farm. This laid the foundation for the first project among the smart farm construction contracts signed by Green Plus Australia's subsidiary with Pure Green Farm last year.
A company official stated, "This preemptive financing will speed up the pace of Australia's Pure Green smart farm construction," adding, "We are considering using the deposits that will flow from Australia in the future to repay the existing convertible preferred stocks (RCPS)."
Green Plus recorded a record-high performance last year by expanding its smart farm business both domestically and internationally. In particular, the company focused on maximizing local agricultural productivity by applying vertical farming methods, optimized environmental control systems, and AI-based automated cultivation solutions.
Chung Soon-tae, CEO of Green Plus, said, "The smart farm business conducted in Japan and Korea last year alone achieved our highest performance ever. Notably, since we have secured an 81 billion won smart farm project in Australia alone, we will complete the purchase of raw materials and immediately start building smart farms."
Source: Green Plus