Yuyang D&U Co.,Ltd. (KOSE:A011690) announced a private placement of 59,000,000 shares at a price of KRW 500 per share for gross proceeds of KRW 29,500,000,000 on October 23, 2020. The transaction will include participation from new investor, ACT Co., Ltd. (KOSDAQ:A131400). The transaction has been approved by board of directors of the company.

The transaction is expected to close on December 22, 2020.