TAEWOO Co., Ltd. announced a private placement of 2,500,000 common shares at a price of KRW 6,000 per share for gross proceeds of KRW 15,000,000,000 on October 25, 2016. The transaction will include participation from existing investor DAECHANG Co.,Ltd. (KOSE:A012800). Post the closing, the investor will hold a stake of 78.45% in the company. Pursuant to the transaction, the investor will acquire a stake of 10.06% in the company. The transaction will close on October 26, 2016. The transaction has been approved by the board of directors of the company. The company reported total assets of KRW 137,764,318,192, total liabilities of KRW 120,761,602,446, total stockholders’ equity of KRW 17,002,715,746, capital of KRW 21,000,000,000, sales revenue of KRW 436,947,978,329, and net profit of current period of KRW -24,982,246,300 for the year ended December 31, 2015.