Orient Precision Industries Inc. (KOSDAQ:A065500) announced a private placement of 7,314,147 common shares at KRW 834 per share for gross proceeds of KRW 6,099,998,598 on May 10, 2018. The transaction will include participation from returning investors Xenia Co., Ltd. for 2,757,793 shares and Orient Co.,Ltd. for 4,556,354 shares. The company will issue shares at a discount of 10%. The company will issue securities through third party allotment method. The securities to be issued are subject to a hold period of one year. The payment date is May 18, 2018. The transaction has been approved by the board of directors of the company.