LS Cable & System Ltd. announced a private placement of 3,573,168 common shares at a price of KRW 61,570 per share for gross proceeds of KRW 219,999,953,760 on August 12, 2021. The transaction will include participation from returning investor LS Corp. through third-party allotment to hold 91.18% stake in the company.

The transaction has been approved by the board of directors of the company. The payment date is on August 30, 2021. The securities to be issued are subject to a hold period of one year.