Sambo Auto Co.,Ltd announced a private placement of 6,000,000 common shares at a price of KRW 500 per share for gross proceeds of KRW 3,000,000,000 on December 20, 2019. The transaction will include participation from returning investor Sambo Industrial Co., Ltd. (KOSDAQ:A009620). The company will receive fund through Third party allocation. The transaction has been approved by board of director of the company. The transaction is expected to close January 6, 2020.