AJ Rent A Car Co., Ltd. (KOSE:A068400) announced a private placement of 13,618,840 common shares of par value KRW 500 issued at KRW 11,932 per share for gross proceeds of KRW 162,499,998,880 on September 23, 2019. The transaction will include participation from returning investor SK Networks Company Limited (KOSE:A001740). The shares are issued through a third party allotment method.

Post to the transaction, the investor stake will increase from 42.2% to 64.2% and and shares held will increase from 9,353,660 to 22,972,500. The payment date for the transaction is December 31, 2019. The transaction is approved by the board of directions of the company.