[Asia Economy Reporter Hyungsoo Park] NCITRON, a non-memory semiconductor specialist, announced on the 28th that the payment for convertible bonds (CB) worth 12 billion KRW has been completed.
The funds secured through the issuance of convertible bonds will be used to strengthen the non-memory semiconductor business and discover new growth engines. Previously, NCITRON decided to issue 3-year maturity convertible bonds to ATG Ground in November last year.
An NCITRON official stated, "We have alleviated concerns about being designated as a management item through business restructuring and financial structure improvement, and successfully attracted large-scale funds," adding, "We will strive to escape from the management item designation based on improved performance driven by the favorable conditions of our core business."
NCITRON is a non-memory semiconductor specialist related to audio. It supplies TV audio semiconductors to LG Electronics, Chinese TV manufacturers TCL and Hisense. Last year, amid the shortage of non-memory semiconductors, the company secured stable foundry volumes and showed an improving performance trend.
A company official emphasized, "Since the end of 2020, we have secured a total of 35 billion KRW through third-party allotment capital increase, convertible bonds, and sale of idle factories," and added, "Based on solid performance and abundant liquidity, we will discover additional growth engines to enhance corporate value."
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