Suppro Co., Ltd. (XKON:A185190) announced a private placement of 370,000 common shares at a price of KRW 3,425 per share for gross proceeds of KRW 1,267,250,000 on August 13, 2018. The transaction will involve participation from new investor Sangji Caelum, Inc. (KOSDAQ:A042940). The company will issue the shares by a way of third party allotment.

The shares issued in the transaction will have a lock-up period of 1 year from the date of closing. The transaction has been approved by the board of directors of the company. The transaction is expected to close on September 7, 2018.