Aval Data Corporation (JASDAQ:6918) announced a private placement of 57,400 treasury shares at ¥522 per share with new investor, Fixstars Corporation for gross proceeds of ¥29,962,800 on November 13, 2014. The transaction will close on November 28, 2014. The shares will be issued by way of third party allotment.

The company expects to incur ¥300,000 as issue costs which include securities registration statement creation expenses and legal expenses. The net proceeds from the transaction will be ¥29,662,800. On closing, the investor will hold 0.87% of the total voting rights in the company and 0.71% of the total outstanding shares in the company.

The transaction was approved by the board of directors of the company.