S&C Engine Group Limited (KOSDAQ:A900080) announced a private placement of 6,578,176 shares at a price of KRW 532 per share for gross proceeds of KRW 3,499,589,632 and 1,886,773 common shares at a price of KRW 530 per share for gross proceeds of KRW 999,989,690 for total gross proceeds of KRW 4,499,579,322 on December 24, 2018. The company will issue 6,578,176 shares to Jin San Cheon, Chief Executive Officer of the company and 1,886,773 shares to Chong Kin Fu. The investors will invest through 3rd party allotment method. On closing of the transaction, the total number of outstanding shares will increase to 123,704,619 shares. Shares which will be issued to Jin San Cheon will have an expected payment date of January 2, 2019 and will be subject to hold period of 1 year and shares which will be issued to CHONG KIN FU will have an expected payment date of January 11, 2019. The transaction has been approved by the board of directors of the company.