Daiichi Co.,Ltd. announced that it has received ¥1.6 billion in funding from Ito-Yokado Co., Ltd.
August 26, 2013 at 12:00 am EDT
Daiichi Co.,Ltd. (JASDAQ:7643) announced a private placement of 1,716,000 common shares at a price of ¥931 per share for gross proceeds of ¥1,597,596,000 with new investor, Ito-Yokado Co., Ltd. on July 23, 2013. The investor will invest for 30% stake. The payment date is August 26, 2013. The transaction has been approved by board of directors' meeting of the company. The company expects to incur ¥32,000,000 in issuance costs including legal fees, financial advisor expenses, registration-related expenses, and securities registration statement processing fees. The company will receive net proceeds of ¥1,565,596,000.
On August 26, 2013, Daiichi Co.,Ltd. closed the transaction.