Enerchem Co., Ltd. announced a private placement of 13,020,832 common shares at a price of KRW 768 per share for gross proceeds of KRW 9,999,998,976 on March 3, 2021. The transaction will include participation from returning investor, KG Chemical Corporation (KOSE:A001390) for 7,682,291 shares, and new investor, KG Eco Technology Services Co., Ltd. (KOSDAQ:A151860) for 5,338,541 shares. The transaction is expected to close on March 5, 2021.

The transaction has been approved by the board of directors of the company. The securities are issued through third party allotment method. Post closing, KG Chemical Corporation (KOSE:A001390) will have 78.66% stake and KG Eco Technology Services Co., Ltd. (KOSDAQ:A151860) will have 21.34 stake in the transaction.