The Chiba Kogyo Bank, Ltd. announced that it has received ¥32 billion in funding from a group of investors.
January 10, 2013 at 11:00 pm EST
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The Chiba Kogyo Bank, Ltd. (TSE:8337) announced a private placement of 6,400,000 fourth-class preferred shares at ¥5,000 per share for gross proceeds of ¥32,000,000,000 on November 30, 2012. The company will receive the net proceeds of ¥31,820,000,000 in the transaction after deducting issuance sundry fees of ¥180,000,000. The issuance date is January 11, 2013. The issuance of the shares will be through third party allocation. Returning investors, Oki Electric Industry Co., Ltd., Taisei Corporation, and Tokyo Tatemono Co., Ltd. will subscribe to 300,000 shares each and Katsuji Kakuta and Katsuo Nemoto will subscribe to 20,000 shares each in the transaction. The remaining shares will be subscribed by other investors. The transaction was approved at the company's board of directors' meeting. Trustees Advisory Co., Ltd. will provide fairness opinion of the transaction value to the company.
On January 11, 2013, The Chiba Kogyo Bank, Ltd. closed the transaction. A total of 165 investors participated in the transaction.
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