SK Rent A Car Co., Ltd (KOSE:A068400) announced a private placement of 11,520,700 common shares of par value KRW 500 issued at KRW 8,680 per share for gross proceeds of KRW 99,999,676,000 on September 16, 2020. The transaction will include participation from returning investor SK Networks Company Limited (KOSE:A001740). The shares are issued through a third party allotment method.

The shares to be issued will have a hold period of one year, post the closing. The payment date for the transaction is September 28, 2020. The transaction is approved by the board of directions of the company.