Xinhua Holdings Limited (TSE:9399) announced a private placement of 570,000 common shares at a price of ¥77 and 3,420,000 units of pre-paid warrants at ¥4.030117 per warrant with Lie Wan Chie for gross proceeds of ¥57,673,000.14 on July 12, 2016. Each warrant will be exercisable at ¥77 per share. The transaction will take place through third-party allocation. Upon closuing, the investor will hold 49.87% stake in the company. The transaction is expected to close on July 13, 2016. The transaction was approved by the board of directors of the company. The company will incur issuance expenses of ¥601,000 for specialist fees, document creation expenses, share issuance administrative expenses, etc.