Raontec Inc. (XKON:A232680) announced a private placement of 255,000 common shares at a price of KRW 10,500 per share for the gross proceeds of KRW 2,677,500,000 on April 24, 2017. The transaction includes participation from 8 investors including Pareto Investment Management for 50,000 shares fro proceeds of KRW 525,000,000, Hans corporation for 40,000 shares for proceeds of KRW 420,000,000 and Jungyoon Choi for 50,000 shares for gross proceeds of KRW 525,000,000. The shares issued have a face value of KRW 500 per share. The shares are issued at a premium. The shares are issued by way of third party allotment. Post the closing the common shares issued by the company increased from 2,298,470 to 2,553,470. The transaction has been approved by the board of directors of the company.