Incon Co., Ltd. (KOSDAQ:A083640) announced a private placement of 4,098,361 common shares at an issue price of KRW 2,440 per share for gross proceeds of KRW 10,000,000,840 on May 23, 2019. The transaction will involve participation from new investor, River Stone Co., Ltd. The shares have face value of KRW 200. The shares issued in the transaction will have a hold period of 12 months from the date of issuance.

The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 66,845,678 shares to 70,944,039 shares. The payment date is July 25, 2019.

The transaction has been approved by the board of directors of the company.