Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 85,000 registered redeemable convertible preferred share at a price of KRW 2,950 per share for gross proceeds of KRW 250,750,000 on May 18, 2018. The shares will be issued at discount. The preference shares convertible into common shares of the company from May 29, 2018 to May 29, 2028. The transaction will take place through third party allotment. The transaction was approved by the board of directors of the company. The transaction will include participation from individual investor Yuju Kang. The transaction is expected to close on May 28, 2018.