Kanmonkai Co., Ltd. (TSE:3372) announced a private placement of 582,300 shares at ¥170 per share for gross proceeds of ¥98,991,000 on September 12, 2014. The transaction will include participation from new investor, Suntory Beer & Spirits Limited. The payment date for the transaction is expected on September 30, 2014.

The company will issue the shares via third party allocation. As part of the transaction, the investor will acquire 5.71% stake in the company. The company expects to incur ¥6,000,000 as issue costs in the transaction.

The issue costs included advisory expenses of ¥5,000,000 and legal fees, registration-related expenses for ¥1,000,000. The net proceeds from the transaction will be ¥92,991,000. The transaction was approved by the board of directors of the company.