HT Algeciras Co., Ltd. announced a private placement of 589,000 shares at KRW 100,000 per share for gross proceeds of KRW 58,900,000,000 on October 13, 2017. The shares have face value of KRW 5,000 and will be issued at premium. The transaction will include participation from existing shareholder Hyundai Merchant Marine Co.,Ltd. The shares will be allotted through share allotment method. Pursuant to the transaction, the investor shall continue to hold 100% stake in the company. The company will issue 294,500 new shares per 1 existing share. The transaction has been approved by board of directors of the company. The transaction is expected to be completed by October 25, 2017.