Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 864,197 registered redeemable convertible preferred shares at a price of KRW 2,430 per share for gross proceeds of KRW 2,099,998,710 on October 30, 2018. The transaction will include participation from existing investor NH Investment & Securities Co., Ltd., Investment Arm. The shares will be issued at 10% discount. The shares being issued with this paid-in capital increase will be locked-up for 1 year. The preference shares convertible into common shares of the company from December 1, 2018 to November 29, 2028. The redemption period would be from November 30, 2019 to November 30, 2028. The transaction will take place through third party allotment. The transaction was approved by the board of directors of the company. The transaction is expected to close on November 30, 2018.