Xinhua Holdings Limited (TSE:9399) announced a private placement of 500,000 common shares at a price of ¥45 and 8,000,000 units of pre-paid warrants at ¥0.56 per warrant with Esther Mo Pei Pei for gross proceeds of ¥26,980,000 on November 11, 2016. Each warrant will be exercisable into one common share at ¥45 per share. The transaction will take place through third-party allocation. The transaction is expected to close on December 22, 2016. The transaction was approved by the board of directors of the company. The company will incur issuance expenses of ¥752,000 for specialist fees, document creation expenses, share issuance administrative expenses, etc in connection with share issuance. The company will also incur issue expenses including other legal fees, document creation expenses, share issuance administrative expenses etc in connection with warrant issuance. Upon closing of the transaction and acquisition of stake from One Heart International Limited and Lian, the investor will hold 40.52% stake in the company.