Gentrogroup Co., Ltd. announced that it will issue 1,261,829 common shares at a price of KRW 1,585 per share for gross proceeds of KRW 1,999,998,965 on December 13, 2021. The shares carry a par value of KRW 500 per share. The transaction will include participation from new investor Kolmar Korea Co., Ltd. The company will receive funding through third party allotment of capital.

The transaction has been approved by board of directors of the company. The transaction is expected to close on December 21, 2021. The shares issued will be subject to restriction period of one year from issuance.