MyungShin industrial Co. announced a private placement of 458,991 convertible preferred shares at an issue price of KRW 34,859 for gross proceeds of KRW 15,999,967,269 on February 11, 2019. The transaction will involve participation from Corporation Hana Bank. The shares will be issued at a premium and through third party allotment method. The transaction is expected to close on February 27, 2019. Post the closing of the transaction, the preferred shares issued by the transaction will increase from 596,107 to 1,055,098. The transaction was approved by the board of directors of the company.