Cayman Golden Century Wheel Group Limited announced a private placement of 35,000,000 common shares at an issue price of KRW 344 per share for gross proceeds of KRW 12,040,000,000 on August 25, 2022. The transaction will involve participation from JMC Corporation. The shares have face value of KRW 268.

The shares are issued at a discount of 10%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method.

Post the closing, the total number of shares issued by the company will increase from 179,157,570 shares to 214,157,570 shares. The payment date is November 30, 2022. The transaction has been approved by the board of directors of the company.