Yuyang D&U Co.,Ltd. (KOSE:A011690) announced a private placement of 118,000,000 common shares at a par price of KRW 500 per share for gross proceeds of KRW 59,000,000,000 on January 15, 2021. The transaction will include participation from returning investor ACT Co., Ltd. (KOSDAQ:A131400) for 59,000,000 shares, Withwin Investment Co., Ltd. for 30,000,000 shares, and KAIRM Invest for 29,000,000 shares. The company will issue shares through third party allocation method.

The transaction has been approved by the board of directors of the company, and is expected to close on January 18, 2021. All shares to be subscribed by ACT Co., Ltd. (KOSDAQ:A131400) will be protected by the Korea Securities Depository for 6 months.