Neo Cremar Co., Ltd. announced private placement of 2,047,782 common shares at a price of KRW 5,860 for the gross proceeds of KRW 12,000,002,520 on February 28, 2024. The shares will be issued through third party allocation capital increase. The transaction will include participation from ASIA Holdings CO., Ltd. for 1,433,448 shares, Asia Development Co., Ltd. for 614,334 shares.

The transaction has been approved by the shareholders of the company and is expected to close on May 3, 2024.