Nepes Corporation (KOSDAQ:A033640) announced a private placement of 100,000 convertible preferred stock at KRW 9,950 per share for gross proceeds of 995,000,000 from new investor Shinhan Capital Co., Ltd. on March 17, 2017. The payment date is April 4, 2017. The shares will be converted from April 4, 2018 to March 4, 2022. preferred shares can be redeemed from October 4, 2020 to March 4, 2022. The shares will be issued through third party allotment method. The transaction has been approved by board of directors.