Shinsegae TV shopping Inc. announced a private placement of 3,000,000 common shares at KRW 5,000 per share for gross proceeds of KRW 15,000,000,000 on January 18, 2017. The transaction will include participation from existing investors, E-MART Inc. (KOSE:A139480) for 1,434,783 shares and SHINSEGAE Information & Communication Co., LTD (KOSE:A035510) for 665,217 shares. Post the closing, the investors will hold 47.83% and 22.17% stake respectively in the company.

The company will issue securities at par. The company will issue 0.3947368 shares for each share held by the existing shareholders. The subscription date will be on February 14, 2017.

The payment date will be February 16, 2017. The board of directors of the company approved the transaction.