Star Mobility Co.,Ltd. (KOSDAQ:A158310) announced a private placement to issue 3,298,969 common shares of face value of KRW 500 per share at issue price of KRW 2,425 per share for an aggregate gross proceeds of KRW 7,999,999,825 on September 16, 2019. The transaction included participation from Hyundai Glovis Co., Ltd. (KOSE:A086280). The company will raise funds through third party allocation. The transaction is expected to close on October 24, 2019. The common shares has one year lock-in period. The board of directors of the company has approved the transaction.