Y-Optics Manufacture Co., Ltd. (KOSDAQ:A066430) announced a private placement of 219,698 common shares at a price of KRW 2,731 per share for gross proceeds of KRW 599,995,238 on March 18, 2016. The transaction will include participation from Kim Sooyong for 109,849 shares and Kim Wooil for 109,849 shares through third-party allotment. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on April 8, 2016. All securities issued are subject to a hold period of 1 year.