Ecovance Co., Ltd. announced that it will issue 2,120 common shares at an issue price of KRW 10,000,000 per share for the gross proceeds of KRW 21,200,000,000 on September 19, 2023. The transaction will include participation from returning investors SKC Co., Ltd. for 820 common shares for the gross proceeds of KRW 8,200,000,000 and Daesang Corporation for 1,300 common shares for the gross proceeds of KRW 13,000,000,000. The transaction has been approved by the board of directors of the company.

The company will issue common shares through Third-party capital increase. The transaction is expected to close on September 26, 2023.