Natural Food & Pharmaceuticals Corp (XKON:A086220) announced a private placement of 1,054,798 common shares at KRW 3,230 per share for gross proceeds of KRW 3,406,997,540 on March 13, 2017. The transaction included participation from returning investor Next Bt Co., Ltd. (KOSDAQ:A065170) to retain its 57.17% stake in the company. The company expects to close the transaction on April 4, 2017.

The transaction has been approved by the board of directors of the investor.