Shinsegae Property Inc. announced a private placement of 5,800,000 common shares at an issue price of KRW 50,000 per share for gross proceeds of KRW 290,000 million through capital increase on August 10, 2022. The shares are having face value of KRW 5,000 per share. The transaction will include participation from retuning investor, E-MART Inc. to retain 100% stake in the company.

The company will issue securities by existing shareholders allocation method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 12, 2022.