STX Heavy Industries Co., Ltd. (KOSE:A071970) announced a private placement of 19,540,000 common shares at a price of KRW 2,500 per share for gross proceeds of KRW 48,850,000,000 on November 2, 2018. The shares will be issued through third party allotment method. The shares will be issued at par. The transaction will include participation from PT No. 2 Limited Company for 18,563,000 shares and KB Kookmin Bank, Investment Arm for 977,000 shares. Post the closing of the transaction, the shares will increase from 8,541,731 to 28,086,986. The payment date is November 22, 2018. 50% of the shares issued will be locked up at the Korea Securities Depository for a year from the effective date of the new shares and the balance 50% shares for six months from the date of listing of the new shares. The transaction has been approved by the board of the directors.