HLB Power Co., Ltd. (KOSDAQ:A043220) announced a private placement of 769,231 shares at KRW 1,300 per share for gross proceeds of KRW 1,000,000,300 on December 21, 2017. The transaction will include participation from Yang-Gon Jin for 538,462 shares, Sunhee Kim for 230,769 shares. Each share has a face value of KRW 500 and will be issued at a premium. The shares are subject to a lock up period of one year. The shares will be issued through third party allotment method. The transaction was approved by the board of directors of the company. The payment date for the transaction is December 27, 2017.