Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 737,464 registered redeemable convertible preferred shares at a price of KRW 2,712 per share for gross proceeds of KRW 2,000,002,368 on January 24, 2019. The transaction will include participation from Catus Oasis 1st Private Investment Joint Venture through third party allotment. The company will issue shares at premium. The preferred shares bear a fixed cumulative dividend of 1% per annum. The preferred shares are redeemable from January 23, 2021 to February 1, 2029 and convertible into 1 common share from February 1, 2019 to January 31, 2029. Upon closing, the number of preferred shares will increase from 2,278,891 shares to 3,016,355 shares. The expected payment date is January 31, 2019. The transaction has been approved by the board of directors of the company.