Itcen Co., Ltd. announced that it has received KRW 3 billion in funding from iPartner Venture Capital Co., Ltd.
February 31, 2017
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Itcen Co., Ltd. (KOSDAQ:A124500) announced a private placement of 9th series unregistered/unsecured convertible bonds for gross proceeds of KRW 3,000,000,000 with its investors iPartner Venture Capital Co., Ltd. and Park, Cheol on February 1, 2017. The bonds do not carry any annual coupon and have yield to maturity of 1%. The bonds will be convertible into 565,184 common shares of the company at a rate of 100% and at a fixed conversion price of KRW 5,308 per share for a conversion period starting from February 1, 2018 to January 1, 2020.
ITCEN CO.,LTD., formerly ITCEN SYSTEMS Co., Ltd., is a Korea-based company engaged in the provision of information technology (IT) services. The Companyâs services consist of system integration; IT solutions, including hardware, network/security, software, information security, image and other solutions, and IT outsourcing, including IT infrastructure, strategy, computing operation, maintenance and security management services. The Company provides its services to public, defense, education, financial, communication and other industries.
ITCEN CO., LTD. 
