Imagine Asia Co., Ltd. (KOSDAQ:A036260) announced a private placement of 12,365,590 shares of par value KRW 500 at a price of KRW 1,860 per share for gross proceeds of KRW 22,999,997,400 on October 5, 2016. The transaction will includes participation from new individual investors, Changbae Ji for 1,075,268 shares for KRW 1,999,998,480, Hyungran Shin for 1,612,903 shares for KRW 2,999,999,580, Chung Sandra Yoo Hee for 2,688,172 shares for KRW 4,999,999,920 and Monument Company Co., Ltd. for 6,989,247 shares for KRW 12,999,999,420. The shares will be issued at a premium. Prior to the transaction, the number of shares issued were 16,963,377. The securities are subject to lock period of one year. The securities will be issued by way of 3rd party allotment. The payment date for 2,688,171 shares is November 11, 2016 and for 9,677,419 shares is November 18, 2016.. The transaction has been approved by the board of directors of the company.