Ilkyung Inc. (KOSDAQ:A078940) announced a private placement of 8,168,000 common shares of face value of KRW 500 each at a price of KRW 1,225 per share for gross proceeds of KRW 10,005,800,000 on March 5, 2018. The transaction will involve participation from individual investor Sangdon Park for 1,890,000 shares, Bom Korea Co., Ltd. and Louie Com Co., Ltd. for 1,224,000 shares, iSolution Co., Ltd., individual investors Jongkyu Won, Sanghoon Park for 408,000 shares each, and other investors. The shares will be issued at a premium.

The shares to be issued will be subject to a lock-up period for 1 year from the date of issue. The transaction is expected to close on March 6, 2018. Post the closing of the transaction, the total number of shares to be issued by the company will increase from 33,987,165 to 42,155,165.

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