Nepes Display Co., Ltd. announced a private placement of 10,000,000 convertible/redeemable preferred shares at KRW 500 per share for gross proceeds of KRW 5,000,000,000 on January 20, 2017. The transaction will include participation from existing investor Nepes Corporation (KOSDAQ:A033640) to hold 98.5% stake in the company. The transaction is expected to be closed by February 23, 2017. The transaction has been approved by board of directors of the investor company.