Pyeongtaek Eastern Road Co. Ltd announced a private placement of 2,519,880 shares at a price of KRW 5,000 per share for the gross proceeds of KRW 12,599,400,000 on July 19, 2019. The transaction will include participation from existing investor Halla Corporation (KOSE:A014790) for 1,511,880 shares, new investors Handong Construction Co., Ltd. for 252,000 shares and Hanjin Heavy Industry Co. Ltd. for 756,000 shares. Halla Corporation currently holds 100% stake and will invest KRW 7,559,400,000 and total amount of investment would be KRW 7,560,000,000. The transaction has been approved by Halla Corporation (KOSE:A014790). The first tranche will close on July 31, 2019 and second tranche will close in October 2019.