Redrover Co., Ltd. (KOSDAQ:A060300) announced a private placement of 2,000,000 common shares of par value KRW 500 at a price of KRW 500 per share for gross proceeds of KRW 1,000,000,000 on November 26, 2019. The transaction will include participation from returning investor Win Asia Partners Co., Ltd. for 3.46% stake in the company. Pursuant to the transaction the investor will hold 17.34% stake in the company. The transaction has been approved by the board of directors of the company. The company expects to close the transaction on December 4, 2019. The securities issued will be subject to a hold period of 2 years.