The Fukushima Bank, Ltd. announced that it expects to receive ¥1.11 billion in funding from SBI Holdings, Inc., Investment Arm
November 10, 2019
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The Fukushima Bank, Ltd. (TSE:8562) announced a private placement of 5,000,000 shares at a price of ¥222 per share for the gross proceeds of ¥1,110,000,000 November 11, 2019. The transaction will include participation from new investor SBI Holdings, Inc., Investment Arm. The transaction has been approved by board of directors. The company will raise funding through third party allotment. The transaction will close between November 30, 2019 to January 31, 2020. The company will pay issue expenses of ¥20,000,000 in the transaction. Post closing, the investor will acquire 17.85% stake in the company.
THE FUKUSHIMA BANK, LTD. is a regional bank mainly engaged in banking business. The Bank operates through two business segments. The Banking segment is engaged in the banking business, including deposit, loan and exchange business, as well as related business. It also engages in software development and operation work and investment business through its subsidiaries. The Leasing segment is engaged in the leasing of information communication equipment, office equipment and others. The other business provides credit card services and credit guarantee services.