Oriental Precision & Engineering Co.,Ltd. (KOSDAQ:A014940) announced a private placement of 3,734,181 common shares at a price of KRW 854 for gross proceeds of KRW 3,188,990,574 on September 7, 2018. The transaction includes participation from Oriental Precision Machinery Co., Ltd., for 1,170,960 shares, Oriental Inspection & Service Co., Ltd., for 585,480 shares, Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) for 585,480 shares, and other investors. The company will issue securities through third party allotment method.

The securities are issued with a lockup period of one year. The payment date of the transaction is September 17, 2018.