Simmtech International Pte. Ltd. announced a private placement of 14,900,000 common shares at KRW 1,150.2 per share for gross proceeds of KRW 17,137,980,000 on July 29, 2021. The shares carry a par value of KRW 100 each.

The transaction will include participation from existing investor Simmtech Holdings Co., Ltd. to retain its 100% stake in the company. The payment date for the shares is expected on August 5, 2021. The transaction has been approved by board of directors of the company.