BK TOPS Co., Ltd. announced a private placement to issue 4,000,000 common shares at an issue price of KRW 500 per share for gross proceeds of KRW 2,000,000,000 on April 25, 2023. The transaction will include participation from individual investor, Jeong Sang-ryong. The transaction has been approved by the board of directors of the company.

The company is expected to close the transaction on May 9, 2023. The shares are restricted to a hold period of one year.