Kolon BASF innoPOM, Inc. announced a private placement of 400,000 shares at a price of KRW 59,325 per share for gross proceeds of KRW 23,730,000,000 on March 15, 2016. Each share has a face value of KRW 5,000 and will be issued at premium. The transaction will include participation from returning investors, BASF SE and Kolon Plastics, Inc for 200,000 shares each to maintain 50% stake in the company respectively.

The company will issue 10 new shares for each existing share held. The subscription date will start and end on March 29, 2016. The payment date for the transaction is March 29, 2016.

The transaction was approved by the board of directors and shareholders of the company.