Maruc Co.,Ltd. (TSE:7056) announced a private placement of 50,000 common shares at a price of ¥1,450 per share for gross proceeds of ¥72,500,000 on October 14, 2020. The transaction will take place through third party allotment. The transaction will include participation from returning investor IBJ, Inc. (TSE:6071).

Post the transaction, the stake holding in the company of the investor will increase from 7.69% stake to 14.29% stake. The transaction has been approved in the board of directors meeting of the company. The company will receive net proceeds of ¥71,500,000 in the transaction.

The payment date of the transaction is October 29, 2020.