East Asia Holdings Investment Limited announced a private placement of 31,501,666 common shares at a price of KRW 138 per share for gross proceeds of KRW 4,347,229,908 on February 21, 2022. The company will receive funding through third party allotment of capital. The transaction will include participation from LI HUIHENG.

The transaction has been approved from board of directors of the company. The shares issued are subject to restriction period of one year from issuance. The transaction is expected to close on March 2, 2022.