Abelco AB (publ) (XSAT:ABE) announced a private placement of 811,112 shares at SEK 0.25 per share for gross proceeds of SEK 202,778 on August 11, 2016. The transaction will include participation from a new investor, Front Office Nordic AB (publ) (NGM:FRNT MTF B). As part of the transaction, the investor will acquire 10.8% stake in the company.

Upon closing, the company will have a share capital of SEK 750,000 represented by 7,500,000 shares. The transaction was approved by the board of directors of the company.