Daesang Bestco Co., Ltd announced a private placement of 800,000 common shares at a price of KRW 50,000 per share for the gross proceeds of KRW 40,000,000,000 with returning investor Daesang Corporation (KOSE:A001680) on September 28, 2017. The shares issued have a face value of KRW 5,000 per share. The transaction is expected to close on October 10, 2017. The transaction has been approved by the board of directors of the company. Post the closing the investor will retain its 100% stake in the company. Post the closing the number of shares will increase from 1,680,000 to 2,480,000 The shares subscription date is September 28, 2017. The company reported total assets of KRW 256,955,000,000, total liabilities of KRW 242,929,000,000, total capital of KRW 14,026,000,000, revenue of KRW 487,974,000,000, and net loss of KRW 16,507,000,000 for the year ended December 31, 2016.