East Asia Holdings Investment Limited announced a private placement of 219,932,050 shares at an issue price of KRW 210 per share for the gross proceeds of KRW 15,120,000,000 on September 19, 2022. The transaction will include participation from individual investors Ding Shaodong, Ding Shaobin, Chen Miaomiao and Chen Chunling. The company will receive funding through third party allotment of capital.

The transaction has been approved from board of directors of the company. The transaction is expected to close on September, 30, 2022.