KR Motors Co., Ltd. (KOSE:A000040) announced a private placement of 9,222,423 common shares at an issue price of KRW 553 per share for gross proceeds of KRW 5,099,999,919 on August 24, 2018. The transaction will involve participation from new investor SIB Co., Ltd. The shares are subject to a hold period of one year. The transaction is expected to close on September 4, 2018. The shares will be issued through third party allotment and at a premium. Post the closing of the transaction, the shares of the company will increase from 119,759,667 to 128,982,090. The transaction was approved by the board of directors of the company.