Kumho Electric, Inc. announced a private placement of 2,293,577 common shares at an issue price of KRW 2,180 per share for gross proceeds of KRW 5,000,000,000 on January 27, 2022. The transaction will involve participation from White Whale Fund No.1. The shares have face value of KRW 500. The shares issued in the transaction will have a hold period of 12 months from the date of issuance.

The company will issue shares through third-party allotment method. The transaction has been approved by the board of directors of the company.