Itcen Systems Co., Ltd. announced that it has received KRW 2.82 billion in funding.
January 14, 2014 at 11:00 pm EST
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Itcen Systems Co., Ltd. announced a private placement of 6th unsecured unregistered private convertible debenture for gross proceeds of KRW 2,820,000,000 on January 15, 2014. The debenture will not bear any interest and will mature on January 15, 2018. The debenture will be convertible into common shares of the company at a conversion price of KRW 13,776 per share and at a conversion rate of 100%. The conversion period will start on January 15, 2015 and will end on December 29, 2017. The transaction will include participation from Dongyang Agriculture and Food Investment Fund No. 2, which will invest KRW 1,800,000,000 in the transaction and IBK Securities Group KONEX Investment Fund, which will invest KRW 1,020,000,000 in the transaction. The subscription date and the payment date will be January 15, 2014. On the same date, the board of directors of the company approved the transaction.
On January 15, 2014, Itcen Systems Co., Ltd. closed the transaction.
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. 