Shinsegae DF Inc. announced a private placement of 2,200,000 common shares at an issue price of KRW 50,000 per share for gross proceeds of KRW 110,000,000,000 on September 10, 2018. The transaction will involve participation from returning investor Shinsegae Inc. (KOSE:A004170). The transaction is expected to close on September 19, 2018. The company announced that it will issue 0.2784810 new shares per 1 existing share. The shares will be issued at a premium. Post the closing of the transaction, the number of shares issued by the company will increase from 7,900,000 to 10,100,000 and the investor will continue to hold 100% stake in the company. The transaction was approved by the board of directors of the company.