E Steel 4 U Co., Ltd. announced a private placement of 374,220 common shares at the price of KRW 10,000 per common share for gross proceeds of KRW 3,742.2 million on July 28, 2022. The company will increase its capital through third party allotment increase taking the total shares in the company to 962,420. The shares will be issued at par.

The payment date for the transaction is July 29, 2022. The transaction has been approved by the board of directors of the company. The transaction will include participation from Samhyun Steel Co., Ltd., Taechang Steel Co., Ltd., Moonbaesteel Co.,Ltd, Bookook Steel Co., Ltd., Keum Kang Steel Co., Ltd., Daedong Steel Co., Ltd., Dongyang S.Tec Co.,Ltd, Gyeongnam Steel Co., Ltd, Hanyang Steel Industry Co Ltd, Winsteel Co., DaeChang Steel Co., Ltd., Seun BNC Co., Ltd., Daelim Steel Company, Changhwa Steel Co.

Ltd., Gukil Steel Co., Ltd, Chun Kwang Steel Co., Ltd., Seun Steel Co., Ltd., Dae Hyup Steel Co., Ltd., Shilla Steel Co., Ltd., Daeji Steel Co., Ltd. and Dong Myung Co.,Ltd. for 17,820 shares each.