Orient Electronics Co.,Ltd. announced a private placement of 1,076,586 common shares at an issue price of KRW 1,541 per share for gross proceeds of KRW 1,659,019,026 on December 10, 2019. The transaction will involve participation from existing investor, Orient Precision Industries Inc. (KOSDAQ:A065500). The shares have face value of KRW 500. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 11,613,787 shares to 12,690,373 shares. The payment date is December 26, 2019. The transaction has been approved by the board of directors of the company.