The Chiba Kogyo Bank, Ltd. announced that it expects to receive ¥32.65 billion in funding from a group of investors
February 18, 2019
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The Chiba Kogyo Bank, Ltd. (TSE:8337) announced a private placement of 653,000 series 1 class 7 preferred shares at a price of ¥50,000 per share for gross proceeds of ¥32,650,000,000 on February 19, 2019. The transaction included participation from existing investors, Taisei Corporation (TSE:1801) for 40,000 shares, Oki Electric Industry Co., Ltd. (TSE:6703) for 20,000 shares, Clex Co.,Ltd. for 20,000 shares, and other investors. A total of 176 investors participated in the round.
The transaction was approved by the board of directors of the company. The company will issue shares through third party allotment. The company will incur issuance expenses of ¥170,000,000 including registration license tax, value calculation cost of preferred stock, attorney fee and financial advisory fee.
The transaction is expected to close on March 18, 2019.
Aida Sekkei Co Ltd is a Japan-based company mainly engaged in the sale business and the ordering business. The Company operates in two business segments. The Sale segment is engaged in the sale of detached house and land. The Ordering segment is engaged in the construction of detached house. The Company also engaged in the provision of services that accompany the sale of home.