East Asia Holdings Investment Limited announced a private placement of 110,000,000 common shares at a price of KRW 130 per share for the gross proceeds of KRW 14,300,000,000 on October 18, 2023. The transaction will include participation from individual investors DING SHAOYING for 70,000,000 shares, CHEN QIUNAN for 20,000,000 shares and XIE KAIFA for 20,000,000 shares. The transaction has been approved by the shareholders of the company.

The transaction is expected to close on October 26, 2023. The shares are restricted to a hold period of 1 year.