Nokwon Commercials & Industries, Inc. announced that it will issue 1,428,571 common shares at a price of KRW 3,500 per share for the aggregate gross proceeds of KRW 4,999,998,500. The shares will be issued through third-party allotment. The transaction is expected to close on December 1, 2023.

The transaction has been approved by the board of directors of the company.