JICO co., Ltd (KOSE:A010580) announced a private placement of 24,000,000 common shares issued at KRW 500 per share for gross proceeds of KRW 12,000,000,000 on March 6, 2020. The shares will be issued at par. The transaction will include participation from ZICO Holdings Inc. (Catalist:40W).

The company will issue the shares in third party allotment basis. The shares issued in the transaction are subject to a hold period. The company expects to close the transaction on March 27, 2020.