Arion Technology Inc. (KOSDAQ:A058220) announced a private placement of 2,000,000 shares at a price of KRW 1,000 per share for gross proceeds of KRW 2,000,000,000 on February 28, 2017. The transaction included participation from new investor Hyundai Plus Invest Co., Ltd. The shares being issued have a par value of KRW 200 per share. Upon completion of the completion of the transaction, the company’s total shares will increase from 69,705,365 shares to 71,705,365 shares. The shares will be issued through third party allotment. The shares will be listed on March 21, 2017. The transaction has been approved by the board of directors of the company. The shares are subject to 12 months lock up period from the date of issue.