Meritz Fire & Marine Insurance Co., Ltd. (KOSE:A000060) announced a private placement of 6,945,000 shares at a price of KRW 14,400 per share for gross proceeds of KRW 100,008,000,000 on November 5, 2020. The transaction will include participation from returning investor, Meritz Financial Group Inc. (KOSE:A138040), a largest share holder. The shares will have a lock up period of one year in Korea Securities Depository and will be issued through third party allotment method.

The company share capital before the transaction is 113,680,000 shares. The payment date is November 13, 2020. The securities are issued through third party allocation method.

The transaction has been approved by the board of directors of the company.