Oksan Ochang Highway Corporation announced a private placement of 101,354 shares at KRW 5,000 per share for gross proceeds of KRW 506,770,000 with existing investor GS Engineering & Construction Corporation on January 13, 2014. The investor will continue to hold a 60.1% stake in the company upon completion of the transaction. The transaction was approved by the board of directors. The subscription period shall start and end on January 17, 2014. The payment date for the transaction is January 17, 2014.


On January 17, 2014, Oksan Ochang Highway Corporation closed the transaction.