Berg Earth Co.,Ltd. announced a private placement of 113,600 common shares at an issue price of Ñ2,640 per share for a gross proceeds of Ñ299,904,000 on January 18, 2023. The transaction will include participation from new investor, Agri-invest Co., Ltd. with 7.28% stake post completion of the transaction. The company issued shares through third party allocation method.

The transaction is expected to close on February 10, 2023. The transaction has been approved by the board of directors of the company.