MyungShin industrial Co. announced a private placement of 596,107 convertible preferred shares at a price of KRW 33,551 per share for gross proceeds of KRW 1,997,554,557 on September 10, 2018. The transaction will include participation from new investor Hana No. 3 Private Equity Limited Partnership. The shares have face value of KRW 5,000 and will be issued at premium. The shares will be issued through a third party allotment method. Post the closing, the number of shares will increase from 1,660,944 to 2,257,051. The payment date is September 18, 2018. The transaction has been approved by the board of directors of the company.