ASTA Corporation (KOSDAQ:A246720) announced a private placement of 122,669 redeemable convertible preferred shares with new investor, Shinhan Capital, Investment Arm at KRW 8,152 per share for gross proceeds of KRW 999,997,688 on March 8, 2019. Each preferred shares will have a par value of KRW 500. The company will issue securities through third party allotment method. The shares can be redeemed at KRW 8,152 per share from April 20, 2022 to April 20, 2029. Preferred shares carry no voting rights. The payment date for the transaction is April 20, 2019. All securities to be issued will have a hold period of one year. The board of directors of the company approved the transaction. The eligibility date for dividend payout will be January 1, 2019 and shares will be delivered to investor on May 8, 2019.