Taiyo Kisokogyo Co.,Ltd. (JASDAQ:1758) announced that it will issue 20,800 shares at a price of ¥4,760 per share for gross proceeds of ¥99,008,000 on March 12, 2021. The transaction will include participation from The Takigami Steel Construction Co., Ltd. (TSE:5918). The company will receive funds through third party allotment of capital.

The transaction has been approved by board of directors of the company. The company will pay processing expenses of ¥1,500,000 in the transaction. Post-completion of the transaction, the investor will hold 3.03% stake in the company.

The transaction is expected to close on March 30, 2021.