Ecovance Co., Ltd. announced that it will issue 2,040 common shares at an issue price of KRW 10,000,000 per share for the gross proceeds of KRW 20,400,000,000 on April 24, 2024. The transaction will include participation from existing investor SKC Co., Ltd. The transaction has been approved by the board of directors of the company. The company will raise money through third party allocation capital increase.

The transaction is expected to close on May 7, 2024. This has been approved in the board of directors of the company.