Itcen Co., Ltd. (KOSDAQ:A124500) announced a private placement of eighth unregistered unsecured coupon unguaranteed private convertible bonds for gross proceeds of KRW 3,700,000,000 on July 24, 2015. The zero coupon bonds will mature on July 27, 2018, with lump-sum redemption of principal on maturity date for the bonds, and yield to maturity of 2% per annum. The bonds will be convertible into common shares of the company at a rate of 100% and at a fixed conversion price of KRW 19,650 per share for a conversion period starting from July 27, 2016 to June 27, 2018.

The transaction will include participation from a new individual investor, Hae-Geun Cho.