Jeil Steel Mfg Co., Ltd. (KOSDAQ:A023440) announced a private placement of 3,460,208 common shares at a price of KRW 1,445 per share for gross proceeds of KRW 5,000,000,560 on February 21, 2019. The shares will be issued at premium over par value of KRW 500. The company will issue securities through third party allotment method. The transaction will include participation from individual investors Joonseok Choi for 2,214,533 shares, Jiho Choi for 692,042 shares, and Wonhong Choi for 553,633 shares. The transaction was approved by the board of directors of the company. The transaction is expected to close on March 4, 2019. The securities are subject to a hold period of 1 year.