Shinto Holdings,Inc. (JASDAQ:2776) announced a private placement of 2,020,200 shares at ¥99 per share for ¥199,999,800 and 272,682 shares at a price of ¥110 per share for ¥29,995,020 for aggregate gross proceeds of ¥229,994,820 on November 9, 2017. New investors, Cosmo Lady (China) Holdings Company Limited (SEHK:2298) and Saturday Co., Ltd. (SZSE:002291) will each acquire 1,010,100 shares corresponds to 8.8% stake through third party allocation. Existing investor Dadu (Hong Kong) Co., Limited will acquire 454,500 shares at a price of ¥110 per share.

Dadu (Hong Kong) Co., Limited will pay ¥30,000,000 through in kind investment of cash through debt and will pay remaining amount through cash. Dadu (Hong Kong) Co., Limited will hold 29.86% stake after the transaction. The transactions expenses were ¥8,118,000.

The settlement date is expected on November 30, 2017.