HLB Co., Ltd. (KOSDAQ:A028300) announced a private placement of 295,950 common shares at a face value of KRW 500 and at an issue price of KRW 98,007 for gross proceeds of KRW 29,005,171,650 on September 5, 2020. The company is raising funding through third party allocation increase method. The transaction will include participation from new investors Advenchen LaboratoriesNanjing for 259,526 shares and SFFT Developing Co., Ltd. for 36,424 shares. All securities issued in the transaction have a hold period of one year. The payment date is December 7, 2020. The transaction has been approved by the board of directors.