Fortis, Inc. (KOSDAQ:A141020) announced a private placement of 6,655,574 shares at the price of KRW 601 per share for gross proceeds of KRW 3,999,999,974 on October 8, 2019. The transaction included participation from new investor UCI Co.,Ltd. (KOSDAQ:A038340). The shares have one year protection.

The par value per share is KRW 500 per share. The share will be allocated through third party allocation. The shares will be issued at 10% discount.

The transaction has been approved by the board of directors of the company. The date of payment is November 25, 2019.