Ceres F&D Co., ltd. announced a private placement of 34,188 common shares at a price of KRW 29,250 per share for gross proceeds of KRW 999,999,000 on August 29, 2018. The transaction will include participation from existing investor Genotech Corp. (XKON:A066830). As part of the transaction, the investor will increase its stake to 77.9% in the company. The transaction has been approved by the board of directors. The transaction is expected to occur on September 4, 2018.