East Asia Holdings Investment Limited announced a private placement of 30,000,000 common shares at the price of KRW 119 per share for gross proceeds of KRW 3,570,000,000 on November 27, 2023. The transaction will include participation from Ding Shaodong, Ding Shaobin, Chen Miaomiao, and Chen Chunling for 7,500,000 shares each. The company will issue shares through third party allocation capital increase method.

The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 401,932,050 shares to 431,932,050 shares. The transaction has been approved by board of directors of the company.

The payment date for the transaction is December 4, 2023.