LUKEN Technologies Co., Ltd. (XKON:A162120) announced a private placement of 315,789 redeemable convertible preferred shares at a price of KRW 9,500 per share for gross proceeds of KRW 2,999,995,500 on June 19, 2018. The transaction will involve participation from Soosung Lift Mfg.Co., Ltd. asset management corporation. The shares will be issued by a way of third party allotment. The redemption period for the shares starts and ends on June 27, 2020 and June 27, 2028 respectively. The conversion period for the shares starts and ends on June 28, 2018 and June 26, 2028 respectively. The securities will be issued at a premium. The transaction is expected to close on June 27, 2018. The transaction has been approved by the board of directors of the company.