CHEOUM & C Co., Ltd. (KOSDAQ:A111820) announced a private placement of 2,341,920 common shares of par value KRW 500 at KRW 2,135 per share for gross proceeds of KRW 4,999,999,200 on September 4, 2018. The transaction will involve participation from Pobis TNC Co., Ltd. (KOSDAQ:A016670). The common shares have a lock up period of 12 months.

The third party capital increase transaction has been approved by the board of directors of the company. The transaction is expected to close on September 18, 2018.