Medizen Humancare Inc Co., Ltd (XKON:A236340) announced a private placement of 117,646 convertible preferred share at a price of KRW 17,000 per share for gross proceeds of KRW 1,999,982,000 on October 16, 2018. The transaction will include participation from new investors, Woori Bank Co., Ltd., Investment Arm and Industrial Bank of Korea, Investment Arm for 58,823 shares each. The shares will be issued at a premium of 40%. Post the closing, preferred shares will increase from 316,665 to 434,311. The shares will be issued through third party allotment method. The redemption period will start from October 25, 2021 and will end on October 25, 2028. The preferred shares will be convertible into 117,646 shares of the company between the period of October 25, 2018 to October 25, 2028. The payment date is October 24, 2018. The transaction has been approved by the board of directors of the company. On October 17, 2018, the company announced that the shares will be issued at a premium of 43.48%.