Korea Steel Shapes Co., Ltd. (KOSE:A007280) announced a private placement of 18,370,406 common shares at a price of KRW 1,350 per share for gross proceeds of KRW 24,800,048,100 on September 3, 2020. The transaction will include participation from returning investor Magic Holdings Co.,Ltd for 7,407,408 shares, K&S Partners for 1,333,334 shares, Hwashin Jawon Co., Ltd. for 740,741 shares, Daedong S&I Co., Ltd. and Pureun Steel Co., Ltd. for 148,149 shares each, individual investors, Gil-gu Han and Joo-hwan Park for 740,741 shares, Jin-hui Jeong for 222,223 shares, Hyo-yoon Han for 148,149 shares, Jae-hoon Jeong for 74,075 shares, executives Seong-woo Park and Se-wook Park for 370,371 shares each, executives Byeong-ro Jin, In-joo Choi, and Young-gyun Song for 74,075 shares each, Cheol-joon Kim for 148,149 shares, Joon-ho Moon for 296,297 shares, Hui-jae Kim, Soon-ki Moon, Byoung-won Park, Young-bae Im, Kyung-bok Choi for 222,223 shares each, Hye-eun Kim, Dae-lee Park, Ahn-shik Son, Chang-woo Son, Kyung-cheol Yang, Bong-tak Oh, Byung-cheol Yoo for 148,149 shares each, Joo-kyung Son and Joo-yeon Son for 111,112 shares, Seong-gu Ahn, Ji-soo Ahn, Song-hye Jeong, Eun-ji Jung, and Soo-yeon Ji for 74,075 shares each, and other investors. The shares will carry a face value of KRW 500 and will be issued at a premium.

The transaction will take place through third party allotment. Post completion of the transaction, the number of shares will increase from 32,353,490 shares to 52,946,119 shares. The transaction is expected to close on September 23, 2020.

The transaction has been approved by the board of directors of the company.