Heshbon Co., Ltd. (KOSE:A054300) announced private placement of 7,593,043 shares at a price of KRW 2,015 per share for gross proceeds of KRW 15,299,981,645 through 3rd party allotment on November 17, 2015. The shares are subject to lock up for 1 year from delivery of shares. The expected payment date is December 28, 2015 and delivery date of new shares is January 18, 2016.

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