Moatech Manufacturing Philippines, Inc. announced a private placement of 6,922,358 shares at KRW 2,493 per share with an existing investor, Moatech Co., Ltd. for gross proceeds of KRW 17,257,438,494 on February 27, 2015. The transaction will take place through third party allocation. The investor will maintain its stake at 100% in the company.

The transaction will close in three tranches. The first tranche will close on March 2, 2015, the second tranche will close on March 9, 2015, and the third tranche will close on March 16, 2015. The company reported total assets of KRW 14,527,997,687 for the year ended 2014.

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