P&O Chemical Co., Ltd. announced a private placement of 2,800,000 shares at a price of KRW 5,000 per share for gross proceeds of KRW 14,000,000,000 on March 19, 2021. The transaction will include participation from existing investor Posco Chemical Co., Ltd. The investor will hold 51% stake in the company, post the closing. The payment date is March 26, 2021. The transaction has been approved by the board of directors of the company.