NovMetaPharma Co., Ltd. (XKON:A229500) announced a private placement of 667,655 common shares at an issue price of KRW 15,300 per share for gross proceeds of KRW 10,215,121,500 on December 5, 2017. The transaction will involve participation from new investors KMH Co. Ltd. (KOSDAQ:A122450) for 130,718 shares, Whale Investment for 32,679 shares, individual investors Choi, Sangjoo for 32,679 shares and Ahn, Beomgeun for 31,373 shares.

The shares will be issued at a premium. The expected payment date of the transaction is December 6, 2017. The shares issued by the company will increase from 7,970,880 to 8,638,535.

The shares are subject to a lockup period of 6 months. The transaction was approved by the board of directors of the company.