JB Eleven Co., Ltd. (NSE:3066) announced a private placement of 373,000 common shares at an issue price of ¥770 per share for gross proceeds of ¥287,210,000 on April 8, 2019. The transaction will include participation from existing investors, ARIAKE JAPAN Co., Ltd. (TSE:2815) for 150,000 shares, Sapporo Breweries Ltd. for 90,000 shares and Orikane Co., Ltd. for 20,000 shares, new investor Kitazawa Sangyo Co., Ltd. (TSE:9930) for 28,000 shares, Juichiban Co., Ltd. for 30,000 shares, SHEEN Co., Ltd. for 10,000 shares, Tokai Service Co.,Ltd., Yamaya Shoyu Co., Ltd., Neoprime Higuchi Co., Ltd., Hananoki Co., Ltd., GU Suppliers Co., Ltd., Miyako Kensou Co., Ltd., and Landmark, Co., Ltd. for 5,000 shares each, and individual investor, Masahiro Yokoyama for 10,000 shares. The company will incur issuance expenses of ¥2,000,000 in the transaction.

The net proceeds of the transaction will be ¥285,210,000. The transaction will take place through third party allotment method. Post-closing of the transaction, Juichiban Co., Ltd. will increase its stake from 7.80 to 7.81%, ARIAKE JAPAN Co., Ltd. (TSE:2815) will increase its stake to 4.68%, Sapporo Breweries Ltd. will increase its stake from 2.38% to 3.48%, Orikane Co., Ltd. will increase its stake from 2.33 % to 2.48%, and Kitazawa Sangyo Co., Ltd. will acquire 2.37% stake in the company.

Out of the total gross proceeds of ¥287,210,000, ¥143,605,000 will be added to the share capital of the company. The number of shares issued by the company as of September 30, 2018, are 7,048,700 shares. The application and payment dates are April 24, 2019 and April 25, 2019 respectively.

The transaction has been approved by board of directors of the company.