Ilkyung Inc. announced that it expects to receive KRW 8.4999996 billion in funding from Huons Co., Ltd., Humedix Co., Ltd., Dream Asset Management Co. Ltd., Dongin Ing Inc., Ilsan Suntek Corp., R.K. Capital Inc.

Ilkyung Inc. (KOSDAQ:A078940) announced a private placement of 6,296,296 common shares of face value of KRW 500 each at a price of KRW 1,350 per share for gross proceeds of KRW 8,499,999,600 on January 21, 2019. The transaction will involve participation from Huons Co., Ltd. (KOSDAQ:A243070) for 1,851,852 shares, Humedix Co., Ltd. (KOSDAQ:A200670) for 1,851,852 shares, Dream Asset Management Co. Ltd. for 740,741 shares, Ilsan Suntek Corp., KSTE Co., Ltd., Park, Jangjun, Kim, Hongjin for 370,370 shares each respectively, returning investors, R.K. Capital Inc. for 148,149 shares, and Dongin Ing Inc. for 222,222 shares.

The shares to be issued will be subject to a lock-up period for 1 year from the date of issue. The transaction is expected to close on January 29, 2019. The transaction has been approved by the board of directors of the company.