SG Safety Corporation announced a private placement of common shares of 152,000 at a price of KRW 65,789 for the gross proceeds of KRW 9,999,928,000 on December 23, 2019. The company will issue common shares through third party allotment. The transaction included participation from JnStargate PEF for 76,000 shares, iMarketKorea Inc. for 45,600 shares and Daewoo Engineering & Construction Co., Ltd. for 30,400 shares.

The shares has a par value of KRW 10,000 and are issued at a premium of 557.89%. The transaction has been approved by the shareholders of the company. The transaction is expected to close on December 27, 2019.

Post the closing, the total number of shares of the company will be 456,000.