KT Sports Co., Ltd. announced that it will issue 1,400,000 shares at issue price of KRW 5,000 per share for gross proceeds of KRW 7,000,000,000 on October 15, 2020. The transaction will include participation from returning investors, KT Skylife Co., Ltd. (KOSE:A053210) for 252,000 shares for gross proceeds of KRW 1,260,000,000, KT Corporation (KOSE:A030200) for 924,000 shares for gross proceeds of KRW 4,620,000,000 and other investors. Post closing of the transaction, KT Skylife Co., Ltd. (KOSE:A053210) will hold 18% stake and KT Corporation (KOSE:A030200) will hold 66% stake in the company.

The transaction has been approved by the board of directors of the company. The subscription date and payment date of the transaction is October 27, 2020. The company will issue shares through shareholder allocation method.

The shares will be issued at par.