Avatec Co., Ltd. (KOSDAQ:A149950) announced a private placement of 1,563 common shares at a price of KRW 960,000 per share for gross proceeds of KRW 1,500,480,000 on October 25, 2017. The transaction involved participation from GTG Wellness Co.,Ltd (XKON:A219750). Of the shares acquired, 729 are existing shares and 834 are new shares.

The transactio has been approved by the board of directors of the investor. Post the closing of the transaction, the investor will hold 55.15% stake in the company. The company reported total assets of KRW 223,000,000, total liabilities of KRW 86,000,000, total capital of KRW 137,000,000, capital of KRW 20,000,000, revenue of KRW 1,556,000,000, and net profit of KRW 77,000,000 for the year ended December 31, 2016.