Shinsegae Intercos Korea Inc. announced a private placement of 600,000 common shares at a price of KRW 5,000 per share for gross proceeds of KRW 3,000,000,000 on June 21, 2019. The transaction will include participation from the returning investor Shinsegae International Co., Ltd. (KOSE:A031430). The shares will be issued through shareholder allocation method. Post the transaction the shares of the company will. Post-closing of the transaction, the investor will continue to hold 50% stake in the company. increase from 600,000 to 1,800,000. The transaction is expected to close by June 28, 2019. The transaction was approved by the board of directors of the investor. The company will issue the shares at par value.