Plaspo Co., Ltd. announced that it will issue 1,697,439 shares at an issue price of KRW 13,470 per share for gross proceeds of KRW 22,865,023,000 on February 4, 2022. The transaction will involve participation from Hyundai Electric & Energy Systems Co., Ltd. for 3.37% stake. The expected closing date is February 12, 2022.

The company will raise funding through a third party capital increase method.