INITECH Co., Ltd. announced that it expects to receive KRW 33.48532601 billion in funding from UnionPay Merchant Services International Holdings Limited
October 28, 2019
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INITECH Co., Ltd. (KOSDAQ:A053350) announced a private placement of 224,690 common shares at a price of KRW 149,029 per share for gross proceeds of KRW 33,485,326,010 on October 28, 2019. The company will issue shares at a premium having a par value of KRW 500 per share. The company raise funding through third-party allotment method. The transaction has been approved by board of directors of the company. The payment date is December 18, 2019. The transaction will include participation from new investor UnionPay Merchant Services International Holdings Limited.
INITECH Co., Ltd is a Korea-based company engaged in the provision of data encryption and authentication solutions for the Internet security market. The Companyâs business divisions include authentication and encryption division, engaged in the issue of electronic licenses and the provision of encryption and decryption services in the Web environment; integrated security management division, providing integrated authority management services and account integrated management of Windows systems and others; security device division, providing hardware security modules; financial application service provider (ASP) division, providing ASP services for electronic financial systems and Internet banking services; system integration (SI) division, providing solutions for electronic finance transactions, as well as system management division. It also involves in the provision of maintenance and technology services, as well as distributes software, computers, peripherals and others.
INITECH Co., Ltd. announced that it expects to receive KRW 33.48532601 billion in funding from UnionPay Merchant Services International Holdings Limited
INITECH CO., LTD 
