SP Farmland Agricultural Co., Ltd. announced a private placement of 90,000 common shares at an issue price of KRW 10,000 per share for gross proceeds of KRW 900,000,000 on March 20, 2019. The company used the employee allotment method for capital increase. The transaction will include participation from returning investors Young Poong Corporation (KOSE:A000670) and individual investor Hyukgu Kwon for KRW 810,000,000 and KRW 90,000,000 respectively. The transaction will involve participation from existing shareholders. The transaction is expected to close by March 26, 2019. The transaction has been approved by board of directors of the company.