People & Telecommunication Inc. (KOSDAQ:A054340) announced a private placement of 952,380 common shares at a price of KRW 1,050 per share for gross proceeds of KRW 999,999,000 on May 24, 2019. The transaction will include participation from Rov Co., Ltd. The securities are being issued through a third-party allotment. Post the closing, the number of shares will increase from 3,078,659 shares to 4031039 shares. Scheduled delivery date of new share certificates on June 14, 2019 and Scheduled listing date of new shares is on June 17, 2019. The payment date of the transaction is on June 3, 2019. The shares are subject to a lock-up period of one year. The transaction was approved by board of directors.