SP Farmland Agricultural Co., Ltd. announced a private placement of 600,300 common shares issued at KRW 10,000 per share for gross proceeds of KRW 6,003,000,000 on February 13, 2020. The transaction will include participation from returning investor Young Poong Corporation (KOSE:A000670). The transaction was approved by the board of directors of the company. The company expects to close the transaction on February 17, 2020.