KC Thermal Co., Ltd. announced a private placement of 60,000 common shares at KRW 31,955 per share for gross proceeds of KRW 1,917,300,000 on March 10, 2017. The transaction will include participation from new investor JNK Heaters Co., Ltd. (KOSDAQ:A126880) to acquire 40% stake in the company. The company will issue securities through third party capital increase method. The investment date is March 15, 2017. The transaction has been approved by the board of directors of the investor.