Hyunjin Materials Co., Ltd. (KOSDAQ:A053660) announced a private placement of 2,416,626 common shares at a price of KRW 2,069 per share for gross proceeds of KRW 4,999,999,194 on March 18, 2019. The transaction will involve participation from WH Networks Co., Ltd for 2,416,626 shares. The shares have a face value of KRW 500 and will be issued at a premium. The company will issue the shares by way of third party allotment. Post the transaction, the total number of shares will increase from 23,500,306 to 25,916,932 shares. The transaction has been approved by the board of directors of the investor. The securities to be issued are subject to a hold period of one year. The transaction is expected to close on May 31, 2019.