Dongbu Steel Co., Ltd. (KOSE:A016380) announced a private placement of 72,000,000 common shares at a price of KRW 5,000 per share for proceeds of KRW 360,000,000,000 and 24,200,000 common shares at a price of KRW 25,000 per share for proceeds of KRW 605,000,000,000 on June 12, 2019. The company will issue 40,000,000 shares at a price of KRW 5,000 per share to KG Steel Co., Ltd. for gross proceeds of KRW 200,000,000,000 and will issue 32,000,000 shares at a price of KRW 5,000 per share to Cactus Private Equity Co., Ltd. for gross proceeds of KRW 160,000,000,000. The shares will be issued at face value. The method of issuance is third party allotment. The company expects to close the transaction on August 30, 2019. The transaction was approved by the board of directors of the company. The shares issued in the transaction will be subject to a hold period of one year.