MOGEM CO., Ltd. (KOSDAQ:A079560) announced a private placement of 16,994,748 shares at a price of KRW 500 per share for gross proceeds of KRW 8,497,374,000 on July 6, 2016. The shares will be issued at par value. The shares will be issued through third party allotment. The transaction is expected to close on July 21, 2016. The transaction has been approved by the board of directors of the company. The shares being issued at subject to lock-up period of 1 year from the date of issue. The transaction will include participation from existing investor, Synopex Inc. for 4,000,000 shares for gross proceeds of KRW 2,000,000,000 representing 11.066957% stake, and MOGEM Holdings Co., Ltd. for 12,994,748 shares for gross proceeds of KRW 6,497,374,000 representing 35.953078% stake in the company. Upon completion of the transaction; the company’s capital will increase from 19,148,883 shares to 36,143,631 shares. The investors will acquire 47.020035% stake in the company through this transaction.