NovMetaPharma Co., Ltd. (XKON:A229500) announced a private placement of 119,636 common shares at an issue price of KRW 37,708 per share for gross proceeds of KRW 4,511,234,288 on April 8, 2019. The transaction will involve participation from new investors, Ulmus Bio Fund 3 for 106,377 shares, and Intellectual Discovery Co., Ltd. for 13,259 shares through third-party allotment method. The shares will be issued at premium to face value of KRW 500 per share. The shares issued will have a hold period of six months from the date of issuance. Post the closing, the total number of shares will increase from 8,655,614 shares to 8,775,250 shares. The expected payment date is April 19, 2019. The transaction has been approved by the board of directors of the company.